Prestige Holdings Ltd. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended May 31, 2012; Provides Earnings Guidance for the Second Half of 2012
For the six months, the company reported revenues of $426,139,000, against $337,949,000 reported a year ago. Profit before taxation from continuing operation was $21,950,000 against $27,220,000 a year ago. Profit after taxation from continuing operations was $15,196,000 or 25.0 cents basic per share against $19,353,000 or 29.3 cents basic per share a year ago. Profit attributable to owners of the parent company was $15,313,000 or 24.9 cents diluted per share against $17,898,000 or 29.1 cents diluted per share a year ago. Net cash generated from operating activities was $36,684,000 against $23,852,000 a year ago.
On the basis of the supply chain and market initiatives that have been taken to manage food costs, the company expect improved results for the second half, and for the current year.