Earnings Report /

Systems Ltd: 2Q22 – Substantial performance backed by higher topline and exchange gains

  • SYS posted consolidated EPS of PKR6.34, up 93%YoY and 47%QoQ in 2Q, this came in higher than our expected EPS of PKR5.59

  • Gross margins increased by c.3.6ppt QoQ and remained flat YoY at 33.5%, slightly higher than our expectation of 32.7%

  • Other income has surged by a massive 94%QoQ to PKR647mn versus our expectation of PKR421mn amid greater exchange gains

Rahul Hans
Intermarket Securities
26 August 2022


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