|
Renaissance Services SAOG declared its results for
the three months ended 31 March 2008. The company has
recorded a Net Profit of R.O. 8.6 million on Revenues
of R.O 49.9 million
The profits for Q1 of R.O. 8.6 million include a
capital gain on the sale of the technology businesses,
which has a net impact gain of R.O. 4.8 million after
tax and all costs. After discounting the impact of
this exceptional income, revenues have increased by
31.6%; EBITDA has improved by 26.7%; profit from
operations has grown by 23.5%; and net profit has
increased by 31%. Operating margins are down from
13.6% to 12.8% on account of inflationary pressure on
costs, in particular affecting labour costs across all
businesses and food consumable costs in the contract
services businesses.
| |
Q1 (Jan-Mar) 2007 |
Q1 (Jan-Mar) 2008 |
|
|
R.O million |
US$ million |
R.O million |
US$ million |
|
Revenue |
37.9 |
98.5 |
49.9 |
129.7 |
|
EBITDA |
8.0 |
20.8 |
16.1 |
41.8 |
|
Operating profit |
5.2 |
13.4 |
6.4 |
16.6 |
|
Net profit |
2.9 |
7.6 |
8.6 |
22.4 |
|
