NINE MONTHS RESULTS: John Holt PLC reaps from taking charge.

John Holt PLC seems to have found its winning formula in these hard times, that is if figures for the nine months to June, are anything to go by.
According to the results released this week, John Holt, expectedly, did not record wow type of growth in income within the period but it sure, had a good and effective hold over its costs.
Total income had grown by 9.58% to N2093m, ahead of 8.44% increase in core revenue to N2056m because other operating income more than doubled to N37m.
The harvest was more because under good control, cost of sale rose by only 1.25% to N1463m; marketing and distribution expenses dropped by 49% to N121m and cost of administration closed the half year at N231m, down 47.5%.
Spreading good butter on the bread was also 19.6% decrease in finance charges to N144m and 87.5% reduction in loss from exchange rate to N66m from N528m.
Hence, as against N919m loss by the first of 2015, John Holt PLC ended June this year with N68m modest profit before tax or N1.77 gain on every N100 income.
John Holt PLC is yet to master its liquidity burden though as working capital deficit rose to N3024m  while receivables jumped 46.3% to N395m and payables dropped by 12.5% to N1370m.
JOHN HOLT PLC: Nm
                Nine Months
                  2016.      2015
Total inc. 2093.       1910
Core inc. 2056         1896
C of sale 1463.        1445
Other inc.   37.            14
Fx gain.   (66).         (528)
Distr.       121.           237
Admin.    231.           440
Finance  144.            179
Profit.        68.           (919)
Margin % 1.77.        (48.1)
W. Capital (3024). (2554).

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