Profit jumps 56% at Knutsford Express

Knutsford Express posted strong gains in profit for Q1.

After more than a year when Knutsford Express traded at elevated levels, things are on the mend but investors in the stock may still have to wait to see their investment paying off with much increase in the stock price.
The company’s latest results is encouraging that investors’ wait for full recovery of the price may not be far away. Profit jumped 56 percent in the August quarter to $88 million from $57 million in 2017 from Sale revenues that rose 23 percent for the quarter to $293 million from $237 million in 2017.
The company still has not provided investors with relevant information to be able to see what gross profit margin they are enjoying to better determine how well the operation is being managed.
Expenses rose at a slower pace than revenues, climbing 16 percent to $211 million from $181 million. Earnings per share rose to 18 cents for the quarter, up from 11 cents on 2017. IC Insider.com is forecasting 75 cents per share. The stock traded at $11.5 on the Junior Market of the Jamaica Stock Exchange, with a PE ratio of 15 times 2019 earnings.
Gross cash flow brought in $108 million but growth in receivables, inventories, addition of $61 million to fixed assets net cash flows used up just $4 resulting in with cash and bank balances of $134 million plus short term investments of $96 million. At the end of August, shareholders’ equity stands at $714 million with borrowings at just $71 million. Net current assets ended the period $280 million well over Payables of $34 million.

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