Pace Limited Announces Unaudited Consolidated and Company Earnings Results for the Third Quarter and Nine Months Ended March 31, 2018
April 25, 2018
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Pace Pakistan Limited announced unaudited consolidated and company earnings results for the third quarter and nine months ended March 31, 2018. For the quarter, the company reported sales of PKR 434,333,000 compared to PKR 125,577,000 for the same period a year ago. Profit before tax was PKR 132,147,000 compared to PKR 49,430,000 for the same period a year ago. Profit for the period was PKR 128,376,000 or PKR 0.44 earnings per basic share attributable to ordinary shareholders compared to PKR 41,027,000 or PKR 0.15 earnings per basic share attributable to ordinary shareholders for the same period a year ago.
For the nine months, the company reported sales were PKR 727,282,000 compared to PKR 343,014,000 for the same period a year ago. Loss before tax was PKR 23,148,000 compared to profit of PKR 185,273,000 for the same period a year ago. Loss for the period was PKR 32,239,000 or PKR 0.12 earnings per basic share attributable to ordinary shareholders compared to profit of PKR 153,777,000 or 0.55 earnings per basic share attributable to ordinary shareholders for the same period a year ago.
For the quarter, on consolidated basis, the company reported sales of PKR 434,333,000 against PKR 125,577,000 a year ago. Profit before tax was PKR 174,588,000 against PKR 31,730,000 a year ago. Profit for the period attributable to equity holders of the parent was PKR 121,786,000 or PKR 0.61 basic per share against PKR 25,350,000 or PKR 0.09 basic per share a year ago.
For the nine months, on consolidated basis, the company reported sales of PKR 727,282,000 against PKR 343,014,000 a year ago. Loss before tax was PKR 7,156,000 against profit of PKR 149,024,000 a year ago. Loss for the period attributable to equity holders of the parent was PKR 10,494,000 or PKR 0.07 basic per share against profit of PKR 122,493,000 or PKR 0.44 basic per share a year ago.
Pace (Pakistan) Limited is engaged to build, acquire, manage and sell condominiums, departmental stores, shopping plazas, supermarkets, utility stores, housing societies, plot and other properties and to carry out commercial, industrial and other related activities in and out of Pakistan. The Company has various ventures in the real estate and hospitality sectors, including shopping malls, office buildings, business centers, modern housing schemes, apartment complexes and multi-use projects. Its commercial projects include Pace Gulgerg Lahore, Pace MM Alam Road, Pace Model Town, Pace Fortress Stadium, Pace GT Road Gujranwala, Pace GT Road Gujrat and Pace Business Center Lahore. Its residential projects include Pace WoodLand and Pace Towers. Its multi-use projects include Pace Circle Lahore, Pace Towers and Peacock Valley Resort. It manages various plazas, including Gulberg Plaza, Model Town Plaza, Fortress Plaza, MM Alam Road Plaza, Gujranwala Plaza Mouza, Gujrat Plaza and Pace Tower.