Improved Q4 results at Productivity Business

Productivity Business Solutions reported a 21 percent reduction in loss for 2017 to US$1.7 million for the December quarter and an increase of 76 percent to US$4.9 million for the full year after taxation of US$1.17 million for the quarter and US$2 million for the year.
Revenues grew 9.25 percent to US$46.36 million in the quarter up from $42.43 in 2016 and for the full year it was up a mere 1 percent to US$172 million from US$171 in 2016.
Administrative expenses rose 7 percent to $18.55 million for the quarter and by 2 percent for the year to $68 million and finance cost 31 percent for the quarter and to $2.9 million and by 37 percent to $9.35 million for the year. Devaluation losses seem to have negatively affect finance cost in the December quarter and pushing the operations into a loss position before tax, for the year, expenses connected for refinancing and capital transactions relating to new business in Suriname and Columbia, helped in pushing cost up in this area.
Based on the fourth quarter results, with a small loss with increased foreign exchange losses, 2018 could turn out to be a profitable year.
The shares last traded on the US dollar market of the Jamaica Stock Exchange at 55 US cents.

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