Kolao Holdings Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
September 27, 2017 at 11:18 pm EDT
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Kolao Holdings announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported sales of $70,137,971 as compared to $83,105,427 for the same period last year. Operating profit was $8,722,617 as compared to $17,928,565 for the same period last year. Profit before income tax expense was $3,835,436 as compared to $13,552,800 for the same period last year. Profit attributable to owners of the company was $3,913,920 as compared to $13,094,014 for the same period last year. Basic and diluted earnings per share were $0.08 as compared to $0.28 for the same period last year.
For the six months, the company reported sales of $147,365,956 as compared to $171,217,063 for the same period last year. Operating profit was $23,693,418 as compared to $28,120,624 for the same period last year. Profit before income tax expense was $13,673,273 as compared to $20,323,201 for the same period last year. Profit attributable to owners of the company was $13,980,151 as compared to $20,016,649 for the same period last year. Basic and diluted earnings per share were $0.30 as compared to $0.42 for the same period last year. Net cash generated from operating activities was $4,482,758 as compared to net cash used in operating activities of $16,385,097 for the same period last year. Acquisition of property, plant and equipment was $1,528,276 as compared to $7,815,813 for the same period last year. Acquisition of intangible assets was $793,858 as compared to $4,413,845 for the same period last year.
LVMC Holdings Co,.Ltd is a Cayman Islands-based automotive company. The Company is a manufacturer and distributor of automobiles and motorcycles. It is engaged in the business areas, such as Distribution, Manufacturer & Assembly, Parts & A/S, and Others. The Distribution business is engaged in the sale of commercial trucks and heavy equipment. The Manufacturer & Assembly business is engaged in the manufacturing, sales, and overseas exports of its in-house brand DAEHAN. DAEHAN built a diverse lineup of products, including 1t trucks, 1.5t trucks, 2t trucks and pick-up trucks. Its TERACO brand delivers a product lineup of trucks. Its KR Motors brand is engaged in the technological development, manufacturing, and sales of motorcycles. Its Parts & A/S business is engaged in the sale of parts and accessories for automobiles and motorcycles and offers after-sales maintenance services. Its Others business is engaged in providing rental services. It has about 60 distributors worldwide.