Systems Limited Reports Unaudited Consolidated and Unconsolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Financial Guidance for 2018
August 27, 2018
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Systems Limited reported unaudited consolidated and unconsolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, on unconsolidated basis, the company's revenue - net was PKR 863.86 million compared to PKR 698.1 million a year ago. Operating profit was PKR 147.67 million compared to PKR 119.98 million a year ago. Profit before taxation was PKR 221.4 million compared to PKR 109.89 million a year ago. Profit was PKR 216.65 million compared to PKR 106.85 million a year ago. Diluted earnings per share were PKR 1.93 compared to PKR 0.95 a year ago.
For the six months, on unconsolidated basis, the company's revenue - net was PKR 1,653.29 million compared to PKR 1,364.86 million a year ago. Operating profit was PKR 310.09 million compared to PKR 252.1 million a year ago. Profit before taxation was PKR 430.93 million compared to PKR 246.33 million a year ago. Profit was PKR 422.41 million compared to PKR 241.08 million a year ago. Diluted earnings per share were PKR 3.76 compared to PKR 2.16 a year ago. Net cash used in operations was PKR 182,851,380 against net cash generated from operations of PKR 205,795,576 a year ago. Purchase of property and equipment was PKR 149,938,422 against PKR 243,956,841 a year ago. Development expenditure was PKR 18,931,894 against PKR 16,887,688 a year ago.
For the quarter, on consolidated basis, the company's revenue - net was PKR 1,225.003 million compared to PKR 864.75 million a year ago. Operating profit was PKR 164.36 million compared to PKR 146.99 million a year ago. Profit before taxation was PKR 228.82 million compared to PKR 141.05 million a year ago. Profit was PKR 223.52 million compared to PKR 137.53 million a year ago. Profit attributable to equity holders of the parent was PKR 227.22 million compared to PKR 140.28 million a year ago. Diluted earnings per share were PKR 2.02 compared to PKR 1.26 a year ago.
For the six months, on consolidated basis, the company's revenue - net was PKR 2,331.11 million compared to PKR 1,682.4 million a year ago. Operating profit was PKR 354.36 million compared to PKR 293.21 million a year ago. Profit before taxation was PKR 462.59 million compared to PKR 283.33 million a year ago. Profit was PKR 453.04 million compared to PKR 277.6 million a year ago. Profit attributable to equity holders of the parent was PKR 459.85 million compared to PKR 282.26 million a year ago. Diluted earnings per share were PKR 4.09 compared to PKR 2.53 a year ago. Net cash used in operations was PKR 63,329,475 against net cash generated from operations of PKR 262,617,867 a year ago. Purchase of property and equipment was PKR 152,707,093 against PKR 259,075,327 a year ago. Development expenditure was PKR 31,979,202 against PKR 16,887,688 a year ago.
The Company's outlook for 2018 is guided by the plan to retain good top line growth but have a more accelerated growth in net profit, standalone and for the Group as well. The Company is expecting to maintain the growth momentum from all of the business units and all geographies. Further, the Company is expecting substantial future growth in Digital Marketing and Call Center.
Systems Limited is a Pakistan-based company, which is s principally engaged in the business of software development, trading of software and business process outsourcing services. The Company operates in four geographical segments: North America, Europe, Middle East, Africa and Others, and Pakistan. Its products include Partner Communication, Middleware Connector, Retail Analytics, HauteLogic, SysHCM and TrIPS. The Company provides a range of services, including consulting, implementation, managed services, and business process outsourcing. It serves a range of industries, including retail, financial services, public sector, insurance, healthcare, real estate, logistics, food services, transportation, oil and gas, education and telecommunication. The Company provides various solutions, including digital commerce, business applications, data management and analytics, business process outsourcing, cloud services, application development, and security.
Systems Limited Reports Unaudited Consolidated and Unconsolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Financial Guidance for 2018