Rymco’s Net Income Boosted by Higher Sales as of end June 2015

According to Rymco’s June balance sheet, the company’s total assets grew by 17% year-on-year to $160.49M while total shareholders’ equity edged up by 1% year-on-year to $50.15M.

Rymco’s net income increased from $1.53M at the end of June 2014 to $3.20M at the end of June 2015.

In fact, higher advertising and selling efforts seem to have translated into higher sales. The company’s sales, net of discounts, surged by 44% year-on-year to $112.91M as Rymco’s advertising and selling expenses were upped by 26% year-on-year to $941.07M.

Moreover, the depreciation of the Japanese yen rendered Rymco’s cars even more competitive on the market. The Japanese yen went from a spot rate of 101.30 against the dollar at the end of June 2014 to a spot rate of 122.49 at the end of June 2015.

General and administrative expenses were lowered by 3% year-on-year to $2.65M while salaries, wages and related charges advanced by 14% to $3.6M. 

Rymco’s Financial Highlights as at June’s end


6/30/20156/30/2014% chg.
Total Assets                                160,494,655                                       137,560,85717%
Total Shareholders’ Equity                                  50,154,486                                         49,880,4881%
Sales (Net of Discounts)                                112,909,231                                         78,325,07944%
General and Administrative Expenses                                     2,650,858                                            2,734,814-3%
Salaries, wages and related charges                                     3,597,157                                           3,149,80014%
Advertising and selling expenses                                        941,071                                               744,39526%
Net Income                                     3,201,859                                            1,533,703


Source: Rymco 

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