Fiscal 2019 Was A Satisfactory Year For Stationery & Office Supplies, With Growth In All Major Aspects Of The Business – David McDaniel
Chairman & Managing Director for Stationery & Office Supplies Limited, David McDaniel, is describing 2019 as a satisfactory year for SOS, with growth in all major aspects of the business.
In his report to shareholders for the 3rd quarter & 9 months ended September 30th 2019, he said that there has been a continuous increase in both revenues and gross profit. This while expenses have been kept at an acceptable increase of 11.5% over 2018, resulting in an increase in pre-tax profits of 24.5% over 2018.
In addition, sales for the SEEK product line doubled, moving from $31.5M – $63.5M.
He noted however that the 3rd quarter of 2019 wasn’t as good as the 3rd quarter 2018, as both the gross and pre-tax profits showed a decline.
Overall there was a slight increase in revenue and the percentage increase in expenses for the quarter was less than the year to date average.
Not with standing, he reported that SOS generated a pre-tax profit for the quarter of $22.3M.
During this period, sales of SEEK products increased from approximately $25M to $33M, a 30% increase during the back to school period.
Earnings per share for the 3rd quarter was $.09, a decrease of $.05 compared to the earnings per share for the 3rd quarter of 2018.
Stationery & Office Supplies Limited closed the 9 months ended September 30th 2019 with earnings per share of 46 cents and improvement on the 37 cents reported for 2018.