- Revenue Growth was 64%
- However, net profit grow by only 0.5%
- Compare to previous year cash position was drastically reduced to 290 mil from 475 mil
- However, what has increased are derivative instruments from 7 mil to 64 mil
- Increase in operations have caused inventories, receivables and payable to increase drastically.
- There is still zero long term borrowings but tax deferred liabilities were reduced from 172 mil to 161 mil
- Net operating profit after tax comes up to 190 mil vs 132 mil in the previous year. The big difference here has to be due to the gain in derivatives vs loss in derivatives in the previous year.
- capital expenditure comes up to 30 mil thus giving them a free cashflow of 160 mil
- However, div paid out was 206 mil and there are debt reduction of 116 mil. This could explain why cash holdings were reduced as previously mentioned.
By: Drizzt
Just got wind from Maki that SPC have just released their second quarter results. so how did they fair?