Padenga Holdings Limited Announces Unaudited Earnings Results for the Six Months Ended June 30, 2016
Padenga Holdings Limited announced unaudited earnings results for the six months ended June 30, 2016. For the period, the company reported revenue of $6,108,323 against $4,303,071 a year ago. Operating loss before depreciation and amortisation was $3,001,837 against $2,570,123 a year ago. Profit before taxation was $2,795,227 against $3,146,923 a year ago. Profit attributable to shareholders was $2,348,261 against $2,132,073 a year ago. Cash utilised in operations was $1,518,697 against $598,863 a year ago. Capital expenditure was $1,337,490 against $2,377,813 a year ago. Diluted earnings per share were 0.43 cents against 0.39 cents a year ago. Net cash utilised in operations was $2,940,574 against $1,517,511 a year ago. This increase in cash utilisation was a consequence of a strategic decision to increase stockholdings of critical inputs in the Zimbabwe operation.