138 Student Living turn around previous losses
- 138 Student living reported unaudited net profit of $270.01Mn (EPS: 65¢) for the six months ended March 2020, representing a $ 226.46Mn improvement from the $43.4Mn (EPS: -11¢) loss reported in the corresponding period in the prior year.
- This performance was largely driven by a 69.4% (or 308.60Mn) increase in total revenue coupled with a 7.6% (or 29.52Mn) reduction in admin expenses as well as 75.2% (or 27.53Mn) decline in tax expenses.
- The stock has risen by 88.7% since the beginning of the calendar year. 138 Student Living closed Tuesday’s trading session at $8.00 and currently trades at a P/E of 21.1x earnings which is above the Main Market Real Estate Sector Average of 15.59x earnings.
(Source: 138 Financials)