Wisynco Group reported another solid quarter of profit to March 2023, from a 23.4 percent growth in revenues to $12 billion for the quarter over the $9.7 billion achieved in the 2022 third quarter and contributed to a 26.8 percent rise in nine months revenues to $36 billion up from $28.4 billion in 2022 with profit after tax of $3.66 billion 23.77 percent higher than $2.96 billion in 2022.
Wisynco headquarters
The group achieved a Gross Profit of $4.1 billion in the current quarter, the same as the preceding quarter and represents a 32.2 percent increase over the $3.1 billion of the prior year and was helped by an improvement in Gross Profit Margin of 34.6 percent which, up from 32.3 percent for the same quarter last year.
Profit before Taxation for the quarter was $1.57 billion, an increase of 43 percent over the $1.1 billion in the comparative quarter in 2022.
After the provision of $416 million for corporate taxes, Net Profits Attributable to Stockholders amounted to $1.2 billion, or 31 cents per stock unit for the quarter, 38.6 percent greater than the $831 million or 22 cents per stock unit earned for the prior year and 98 cents for the nine months up from 79 cents in 2022.
The company ended the period with cash and investments of $11.4 billion, placing it in a great position to fund the planned major factory expansion into 2024.
