Mortice Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2017
November 27, 2017 at 02:50 am EST
Mortice Limited reported unaudited consolidated earnings results for the six months ended September 30, 2017. For the six months, the company reported service revenue of USD 106,315,772 against USD 91,184,497 a year ago. Profit before taxation was USD 2,213,862 against USD 3,074,047 a year ago. Profit for the period was USD 1,315,662 against USD 1,913,292 a year ago. Profit for the period attributable to owners of the parent was USD 1,025,376 against USD 1,478,826 a year ago. Basic and diluted earnings per share were USD 0.02 against USD 0.03 a year ago. Net cash generated from operating activities was USD 1,981,284 against USD 2,245,657 a year ago. Acquisition of plant, property and equipment was USD 633,055 against USD 904,083 a year ago. Adjusted EBITDA marginally down 4% to USD 4.8 million against USD 5.0 million a year ago, primarily reflecting cost pressures on a specific contract that have now been resolved. Adjusted profit before taxation down 15.4% to USD 2.2 million against USD 2.6 million a year ago. Net debt of USD 17.6 million. Adjusted EBITDA and profit before tax excludes USD 0.5 million of gains from financial liabilities measured at fair value.