Corporate Result: SRVI EPS declined by 16% in FY19

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Service Industries Limited (PSX:SRVI) in an AGM held on June 25, 2020 released its financial results for the year ended 31st December 2019. The results indicate a profit of around Rs.886,364 with earnings per share amounting to Rs. 47.16 per share. Financial results for subsidiaries of Service Industries was also released that reported profits of Rs.1,359,009 collectively and the earnings per share amounted to Rs.73 per share for the fiscal year 2019.

The profits reported for the fiscal year 2019 were lower than the profits for the fiscal year 2018 as the results indicated an increase of 38% to the value of Rs.205,142 in other expenses. Distribution costs have increased slightly by 11.4% whereas the administration expenses have decreased by 1.1%.

The company has also announced the final cash dividend for the FY2019 that has amounted to Rs.7.5 per share and the company has also decided to issue bonus shares in proportion to 25 shares for every 100 shares held (25%). The board of directors have also agreed to take a loan of Rs.5 Bn from Service Global Footwear(a wholly owned subsidiary) to meet its working capital requirements.

Year Ended 31st December 2019

Service Industries  Limited

EPS 2019= 47.16 PKR 

EPS 2018= 56.47 PKR 

Cash Dividend=7.5 PKR

Bonus Dividend= 25%

 

Service Industries Limited and its subsidiaries

EPS 2019= 73 PKR 

EPS 2018= 56.16 PKR