Prestige Holdings Ltd Reports Consolidated Unaudited Earnings Results for the First Quarter Ended February 29, 2012; Provides Earnings Guidance for the Second Half of 2012
Prestige Holdings Ltd. reported consolidated unaudited earnings results for the first quarter ended February 29, 2012. For the quarter, the company reported revenues of $215.604 million, an increase of 31% against $164.396 million reported a year ago. Profit before taxation from continuing operation was $10.696 million against $13.052 million a year ago. Profit after taxation from continuing operations was $7.726 million or 12.7 cents basic per share, decreased by 18% against $9.468 million or 15.7 cents basic per share a year ago. Profit attributable to owners of the parent company was $7.774 million or 12.6 cents diluted per share against $9.011 million or 14.7 cents diluted per share a year ago. Net cash generated from operating activities was $15.433 million against $6.755 million a year ago.
With the exit from the loss making Dominican Republic business The company anticipates improved results in the second half and for the current year.