Blue Power Group Ltd (BPOW) has released their October 2020 (Q2) numbers. Here are the highlights.
This Quarter (2021Q2) vs Same Quarter Last Year
- Revenue was 151.99m vs 112.75m (34.80%)
The company says the revenue for this quarter includes new sources of income not available in the previous year. However In in the CARICOM region, they faced intense competition which resulted in a lower level of export sales. Gross margin for the quarter has fallen from the 43.5% earned in Q2 last year to 36.38% for Q2 this year
- Net Income totaled 16.79m vs 28.19m (-40.45%)
Profits are now being taxed as the company graduated to the main market in April after receiving tax benefits for the last 10 years (-$6m impact this quarter). Additionally, the company benefited from +$8m Finance income last year and lower Admin Expenses
Year To Date (2021Q2)
- Revenue was 313.84m. Increasing by 35.61% or 82.41m YTD YoY.
- Net Income totaled 49.89m. Decreasing by -3.27% or -1.69m YTD YoY.
The YTD profit reflects a substantial $11m provision for estimated credit losses, and additional expenses for staffing the administration to handle the accounting functions of Lumber Depot Limited. (Admin expenses up $15m.) YTD taxes are an additional $17m hit to the bottom line
This is just a summary. For more charts, ratios and other details visit BPOW’s page here