Fesco big forecasted revenue miss

Future Energy Source went to the capital market at the end of March and was well received by 4,495 investors who snapped up the shares on offer, with investors pushing the 80 cents offer price of over $1 for a nice short term gain.
The company reported their full year results to March this year, with profit before tax of $141 million, up slightly from $137 million earned in 2020, but below the forecast in the prospectus.
Taxation ate up $31.7 million, leaving a net profit of $109 million, up from $105 million in 2020.  Revenues of $5.94 billion in 2020 fell just 2 percent to $5.85 billion in the latest fiscal year, but gross profit climbed 7.5 percent to $191.6 million from $178 million in 2020. While revenues for the year was down, fourth quarter revenues grew a strong 10.8 percent to $1.5 billion from $1.36 billion in 2020 and profit before tax rose to $48.5 from $41.4 million, the net profit for the 2021 quarter seems overstated as Operating and administrative expenses were just $767,621 versus $9 million in 2020, with full year cost of $59.5 million, up from $54 million in 2020.
Finance income net of expenses amounts to $398,872 versus $10.3 million in the 2020 March quarter and $9.4 million for the full year compared to $13 million in 2020. The amounts include foreign exchange gains and interest income with finance cost of $3.6 million for the 2021 fiscal year and $4.4 million in 2020, offsetting total finance income.

Future Energy Source gas station being built close to the top of Beachwood Avenue, Kingston. When fully operational will boost revenues and profit.

Data in the prospectus projected revenues that were $1 billion higher than the outturn, with the forecast being $6.87 billion that is a big miss when the fourth revenue grew by nearly 11 percent. It raises the question about the second year forecast of $10.57 billion, which would now represent a near doubling in revenues. Operating and administrative cost projected at $81 million ended at $59.5 million for the full year, which is just above the cost in the nine months of $58.7 million. The prospectus projected gross profit of $222 million, but the company delivered $191.6 million and had profit before tax projected at $151 million and $132 after projected taxation of $18.9 million, but the company delivered a lower net profit and higher taxes of $31.7 million. a total of $8.8 million of the reduced profit is due to inventory items consisting of pumps and other equipment which were incorrectly classified under property, plant and equipment being written-off to cost of goods in the final numbers.
The company shareholders’ equity stood at $319 million, up from $205 million in 2020 due to the profit made during the year as the IPO proceeds came in after the year end that will be swelled by $245 million. Current assets stood at $284 million with cash at $73 million, while current liabilities amount to $193 million.
Property, plant and equipment moved from $127 million to $256 million, with work in progress on the building of the gas station on Beachwood avenue accounting for $124 million.
The stock traded at $1.05 at the close on Friday, $1.05 on the Junior Market of the Jamaica Stock Exchange at a PE ratio of 8 times ICInsider.com projected earnings of 13 cents.

About IC Insider.com
Обновили на порносайте pornobolt.tv порно страничку о том как парень выебал пизду мачехи, которая устала от своего муженька Комиксы, Манга читать онлайн на Русском языке

Brand new Partner with our doctors to make you happy is Omtogel RTP

Play Pin-up aviator Slots and e-Diet in Polska.