RYMCO’s Net Profit Dropped 8% in 2014
RYMCO S.A.L recorded a year end net profit of $4.28M in 2014 compared to $4.65M in 2013. This was partly on the back of, the annual 3.93% growth in sales to $175.45M which was offset by the 7.67% year-on-year (y-o-y) increase of cost of sales to $153.19M in 2014. This in turn relatively affected the Gross Profit Margin, the Operating Profit and Net Profit Margins, which saw respective yearly declines from 15.71%, 4.20% and 2.75% to 12.69%, 2.34% and 2.44% by the End-2014.
In the balance sheet, total assets rose from $145.60M in 2013 to $170.71M by December 2014. In details, “Inventory” and “Current Account Receivables” upturned by a yearly 4.56% and 43.31% to $54.38M (constituting 31.85% of total assets) and $37.16M (constituting 21.77% of total assets), respectively over the same period.
Total Shareholders’ equity slightly dropped from $50.85M in 2013 to $49.45M by the end of 2014.
Worth mentioning that dividends were paid last year for the financial year 2013 to the tune of LP 138/share (subject to distribution tax). Shareholders entitled of dividends are the ones holding the shares prior the 26th of June 2014.
2013’s, 2014’s RYMCO’s Financial Highlights ($M)
| 2014 | 2013 | Change | |
| Total Assets | 170.71 | 145.60 | 17.25% |
| Inventory | 54.38 | 52.01 | 4.56% |
| Notes and Current Account Receivables | 37.16 | 25.93 | 43.31% |
| Total Equity | 49.45 | 50.85 | -2.75% |
| Sales | 175.45 | 168.81 | 3.93% |
| Cost of Sales | 153.19 | 142.28 | 7.67% |
| Gross Profit | 22.26 | 26.53 | -16.09% |
| Gross Profit Margin | 12.69% | 15.71% | |
| Operating Profit | 4.11 | 7.09 | -42.03% |
| Operating Profit Margin | 2.34% | 4.20% | |
| Net Profit | 4.28 | 4.65 | -7.96% |
| Net Profit Margin | 2.44% | 2.75% | -11.27% |
Source: BSE News
