A 204 percent increase in profit for Consolidated Bakeries better known as Purity, in the March quarter saw net profit ending at $13.9 million (2014 $4.58 million) from a 15 percent increase in revenues of $226.28 million.
Gross profit margin increased to 34.2 percent from 30.6 percent in 2014 and contributed much to the increased profit. Lower electricity cost would have made a big contribution to the improvement in this area. Administrative and other expenses rose less than revenues at 6.7 percent and selling and distribution expenses rose by 12.1 percent just below the growth in revenues.
The company earned 6 cents per share well up on that for 2014 and compares with the 8.4 cents reported for the twelve months of 2014, IC Insider is forecasting 20 cents for the full year. With the stock price at $1.15 on the junior market, it boasts a PE of 5.7 and has a net asset value of $2.42.
Consolidated Bakeries that produces and markets baked products such as breads, buns, crackers and cookies has equity of $540 million, loans of $64 million and cash funds of $110 million.
Purity profit jumps 204%
May 26, 2015 by
[…] in the June quarter dipped to $881,000 compared with $4.3 million in 2014 for Consolidated Bakeries. For the six months profit was up to $14.8 million from $8.9 million as revenues climbed just 2 […]