SOS reports second-best quarter
Stationery and Office Supplies Limited (SOS) has continued its trend of record-breaking performances seen since the start of this year, delivering its second-best quarter seen since its 57-year existence during the period ended June 30.
For the second quarter period revenues for the company almost doubled, increasing 76 per cent above the prior year’s period to total $420 million. Profit also ballooned to $69 million or over 2000 per cent above the $3.1 million earned for the same period last year. Half-year figures were equally impressive with revenues amounting to $847.7 million over the six months while profits almost tripled to total $173.6 million.
“During the second quarter we completed the delivery and installation of a new 200-plus seat call centre as well as other projects. The scope of work that was completed during this quarter included industrial racking projects, mobile filing systems, and several new office installations,” the company said in its recent unaudited financial report.
The stationery and office supplies provider, which also reaped significant gains from its SEEK brand, said that the addition of some new products furher helped to drive sales over the period. SEEK revenues for the six-month period totalled approximately $33 million–$14.4 million of which was earned during the quarter ended.
“With the addition of the new products which were produced for the first time during the month of June using the new machinery which we purchased, total SEEK sales more than doubled compared to the same period of the previous year. This showed that there is a need and demand for these new products,” the directors noted.
“SOS has been able to adjust to the ever-changing market place and this is a significant reason why we have been able to continue to be profitable in an unpredictable economy,” the directors also said.
At the end of the period total assets for the company climbed to $1.1 billion, up 20 per cent in year on year comparisons. Earnings per share also moved up to $0.70, an increase of $0.47 when compared to the prior year’s period.
