Fosrich Reports Slight Increase in Profit for Q1
- Fosrich reported a 6.7% increase in unaudited net profit for the three-month period ending March 31, 2019. Net profit increased from $30.8Mn (EPS: $0.06) in Q1 2018 to $32.9Mn (EPS: $0.07) in Q1 2019.
- Revenue for the period was $378.6Mn, up 39% from $271.9Mn during the prior period. The growth in revenue was as a result of the strategies implemented by the Company to increase its business within the distributive space for specific products.
- The stock has risen 22.68% since the start of the calendar year. Fosrich closed at $4.76 yesterday and currently trades at a P/E of 25.05x earnings which is above the Junior Market Distribution Sector average of 20.96x.
(Source: Fosrich Financials)