Proven Investment Limited Reports increase in Q3 Profit

• For the third quarter ending December 31, 2018, Proven Investments Limited reported a net profit of US$5.9Mn (EPS: US$0.0094), representing a 12.78% decline relative to the US$5.23Mn (EPS: US$ 0.0088) reported one year prior.

 

• Notably, there was a 15.90% increase in revenue from US$25.64Mn to US$29.72Mn which was due mainly to an improvement in fees and commission, continued net gains on the carry trade strategy, an improvement in both foreign exchange gains and other income.

 

• In particular, the company’s operating costs for the period was (US$20.01Mn), up 21.18% when compared with the US$ 16.52Mn recorded in the corresponding period of 2017.

 

• Proven’s USD stock price has grown by 10.0% YTD and closed trading at US$0.22 yesterday. The stock currently trades at a P/E of 24.18x earnings which is above the Main Market finance average of 17.40x.

 

(Source: Proven Investments Financials)