FESCO has yet again shown that it has solid growth potential as it yet again beats analysts’ estimates and had its best quarter ever.
For the third quarter that ended December 31, 2022, the company recorded operating profits of J$155.59 million, which reflects a 134.10% increase which equates to J$89.127 million year-over-year increase.
Operating profits have also shown an increase as well, year to date they saw a 175.45% increase. Overall, this amounts to J$431.10 million which is up from J$156.50 million a year prior.
Income loss came in at J$2.27 million compared to an income of J$7.18 million last year, which reflects a decline of J$9.45 million. At the end of that same December 2022 quarter, profits after taxes closed at J$153.32 million, reflecting a growth of 108.20% which equates to J$79.68 million year-over-year.
Year-to-date net profit was recorded to be at J$434.40 million, which has exceeded the net profit achieved for the full year ended March 31, 2022, by J$176.51 million which is about 68.45%.
Revenue growth to J$8 billion, which reflects an 82.65% or J$3.03 billion year-over-year increase. Operating expenses were reported to be at J$84.81 million for the period and J$215.55 million year-to-date.
