Profit hike from lower revenues follows restructures, government subsidies
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The company has overseen operational changes in the past 12 months |
The winds of change have swept through K&S Corporation, with vast restructuring delivering a much different outlook on recent years.
Last year it reported its annual net profit fell 86.4 per cent to $2.32 million, despite revenues rising 7.2 per cent to $905.2 million.
This year, K&S saw a statutory profit after tax of $11.2 million for the year, 384 per cent higher than the prior corresponding period (pcp), even though operating revenues decreased by 12.7 per cent to $790.6 million.
The change is underscored by what K&S cites as “operational efficiencies, supplier …
Read the full article at: https://www.fullyloaded.com.au/industry-news/2008/k-and-s-corporation-sees-off-transformative-financial-year