Medical Disposables & Supplies Generates PBT Of $123M, Although Hagley Park Road Works Continues To Be Disruptive To Business
Medical Disposables & Supplies Limited (MDS) managed to generate a profit before tax of $123.3M, which was $13.7M or 12.5% above the previous year ended March 31, 2018. This the company is reporting despite the Hagley Park road works, which has been and continues to be particularly disruptive to their business over the past year, reducing walk-in traffic, and affecting phone lines and utilities.
The Company is now in its sixth year on the Junior Market of the Jamaican Stock Exchange and is now subject to fifty percent (50%) tax remission as of December 24, 2018.
As such, profit after tax grew by $3.2M or 2.9% from $109.6M for the financial year to $112.8M at the end of the current financial year.
Chairman Winston Boothe in his report included in the company’s just released 2019 annual report indicated that the Company continued to show robust growth in a number of areas.
MDS he reported generated gross profits of $548.5M for the year ended March 31, 2019, which represented growth by $87M or 19% when compared to the year ended March 31, 2018.
Operating expenses of $361.9M however increased by $42.1M or 13.2% due mainly to the costs associated with increased sales activity.
Total assets grew by 13.86% or $200.8M from $1.45B to $1.65B.
Sales revenue for the fourth quarter was $641.3M compared to $559.5M in the fourth quarter of the prior year, an increase of $81.8M or 14.6%.
Sales in this 4th quarter were $102.6M or 19% higher than that of the third quarter.
The company closed the financial year with earnings per share of 43 cents.