Signity sales revenues down, profitability up
11:49
IT provider Sygnity reported PLN 7.79 million in consolidated net loss attributable to shareholders of the parent company during the financial year ending October 1, 2016, the Polish press reported on Monday. The loss during the previous fiscal year had amounted to PLN 4.18 million, the company’s press release reported. Operating profit amounted to PLN 4.32 million, compared with PLN 3.95 million in profits a year earlier.
The company remained optimistic about the results. Signity’s press release read, “At the ending of the financial year, the key indicators of profitability of the operations reached higher values than in the previous year, except for, among others, the return on sales, which was slightly lower than in the previous year (15.6 compared with 16.4 percent). EBITDA margin reached 5 percent, an increase of 0.6 percentage points. and the EBIT margin amounted to 1 percent, an increase of 0.1 percent compared to the previous year. We achieved these indicators mainly by savings in general and administrative expenses.”
However, unconsolidated net loss in the period of 2016 amounted to 10.5 million PLN, an increase of about PLN 6 million on the previous year. It has had consolidated sales revenues of over PLN 400 million during the past three years.
