The directors of Productive Business Solutions (PBS) say the company delivered steady profits in the third quarter, even as revenues fell and expenses rose.
For the three months to the end of September, PBS reported net profit of US$800,000, roughly the same as in the corresponding period last year.
However, the company says revenues were significantly lower at US$80 million than the US$120.5 million a year ago, while sales and administrative expenses increased, partly due to its newer operations in Ecuador and Peru.
Despite that, PBS managed to keep its core earnings before interest, taxes, depreciation, and amortisation relatively stable, while finance costs declined.
For the nine months to September, the company earned higher tax profits than in the same period last year, even though overall revenues were slightly down.
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