Earnings Report /
Pakistan

Avanceon Ltd: 3QCY21 review – Lower topline and exchange gains lead to earnings miss

  • AVN has posted 3QCY21 consolidated NPAT of PKR156mn (EPS: PKR0.61), down 51% yoy and 36% qoq.

  • Net Sales have declined by 25% yoy to PKR1.22bn, the decline is due to lower contracts being executed during the quarter

  • Lower recognition of revenue of backlog of orders have led to the disappointment.

Intermarket Securities
29 October 2021