XYZ LTD 2D
INCOME STATEMENT FEBRUARY 2020
Immediate Previous Variance as a
Same Period LY Current Period Current Period Budget Budget Variance Year to date Values Notes
Period % of Budget
FEBRUARY --19 JANUARY--20 FEBRUARY--20 FEBRUARY--20 VARIANCE % YTD
TURNOVER ACTUALS ACTUALS ACTUALS (S) BUDGETED (B) (B-S) VAR ACTUALS
Cash Sales 2,088,018.00 1,376,213.78 2,214,383.55 3,701,564.50 1,487,180.95 40.18 16,145,661.86
Credit Sales 19,560,566.00 17,904,375.82 21,750,449.05 30,023,138.12 8,272,689.07 27.55 123,502,675.12
Cash Sales - - - - - 0.00 -
Credit Contracts 11,641,454.00 5,841,416.37 3,361,431.85 6,755,298.00 3,393,866.15 50.24 71,727,314.37
Other Revenue 4,311,177.00 285,152.17 891,612.00 3,868,133.36 2,976,521.36 76.95 24,656,526.28
Credit notes - (166,032.00) (180,596.61) - 180,596.61 0.00 (166,032.00)
Other Incomes 75,556.00 52,765.00 62,495.00 120,780.00 58,285.00 48.26 432,358.00
TOTAL TUROVER 37,676,771.00 25,293,891.14 28,099,774.84 44,468,913.98 16,369,139.14 36.81 236,298,503.63
OPERATING EXPENSES - - - - - -
Cost of Hire 8,482,931.00 8,261,999.00 8,611,674.00 10,167,063.89 1,555,389.89 15.30 70,599,990.00
Cost of Hire-Outsourced - 182,000.00 602,000.00 (602,000.00) 0.00 541,000.00
Crew Wages 6,675,269.85 6,946,121.55 6,952,160.75 6,168,742.59 (783,418.16) (12.70) 52,355,138.55
Fuel Expense 4,935,269.00 3,681,812.00 4,693,176.00 7,185,219.18 2,492,043.18 34.68 35,051,926.00
Oils & Lub. Expenses 59,136.00 61,065.00 73,750.00 100,890.00 27,140.00 26.90 452,145.00
Repairs & Renewals 161,593.00 122,975.00 159,719.00 50,482.00 (109,237.00) (216.39) 1,018,435.80
Tyres & Tubes - - - 4,333.33 4,333.33 100.00 -
Crew Travelling 817,400.00 241,680.00 629,520.00 289,531.33 (339,988.67) (117.43) 4,029,600.00
Uniform & Clothing 58,707.00 88,037.00 88,037.00 410,599.67 322,562.67 78.56 616,259.00
Laundry - - - 35,400.00 35,400.00 100.00 -
Ferry B & Toll 265,593.00 124,031.57 186,030.29 186,133.00 102.71 0.06 1,851,750.57
Towing Charges - - - 833.33 833.33 100.00 -
Licences & Insurance 8,567.00 - - 12,171.91 12,171.91 100.00 42,835.00
Rents & Rates 929,673.46 636,749.52 632,023.00 736,541.83 104,518.83 14.19 4,558,455.00
Depreciation 125,674.00 95,911.00 95,911.00 127,470.00 31,559.00 24.76 820,192.00
D.Drivers Oper. Allowance 744,720.00 210,150.00 45,350.00 1,040,380.00 995,030.00 95.64 3,246,200.00
Drivers Incentives 1,435,114.00 378,016.00 730,710.00 984,527.79 253,817.79 25.78 6,653,484.00
Car Cleaning 677,162.00 519,150.00 524,110.00 798,255.00 274,145.00 34.34 4,402,861.00
W/shop Sundries - - - - - 0.00 -
Court Fines - - - - - 0.00 -
TOTAL OPER.EXPENSES 25,376,809.31 21,549,697.64 24,024,171.04 28,298,574.86 4,274,403.82 15.10 186,240,271.92
GROSS PROFIT 12,299,961.69 3,744,193.50 4,075,603.80 16,170,339.12 12,094,735.32 74.80 50,058,231.71
GROSS MARGIN 32.65% 14.80% 14.50% 36.36% 21.86% 21.18%
ADMINISTRATION EXPENSES
Salaries & wages 1,796,976.15 2,060,077.20 2,664,665.80 1,854,243.67 (810,422.13) (43.71) 15,261,007.10
Staff Welfare 762,289.00 571,135.39 674,312.08 483,206.00 (191,106.08) (39.55) 3,329,600.49
Staff Training 737,645.50 841,444.00 379,375.00 943,602.92 564,227.92 59.80 1,867,848.00
Staff recruitment - 50,000.00 8,000.00 - (8,000.00) 0.00 98,760.00
Controllers Incentives - - 77,536.00 89,165.38 11,629.38 13.04 424,060.00
Restructuring costs - - - - - 0.00 -
Travelling Expenses 23,800.00 46,670.00 107,950.00 225,416.00 117,466.00 52.11 485,485.00
Entertainment - - - - - 0.00 -
Training Levy 18,850.00 17,200.00 15,900.00 - (15,900.00) 0.00 123,650.00
Bonus Scheme - - 50,600.00 - (50,600.00) 0.00 -
SUB TOTAL 3,339,560.65 3,586,526.59 3,978,338.88 3,595,633.97 (382,704.91) 21,590,410.59
OTHER ADMIN.EXPENSES
Other Insurances 117,178.17 84,048.00 84,048.00 52,489.00 (31,559.00) (60.12) 706,664.85
Security Services 83,300.00 106,094.00 93,497.00 89,350.00 (4,147.00) (4.64) 660,332.00
Advertising / Tendering 5,000.00 39,250.00 18,500.00 252,000.00 233,500.00 92.66 257,590.00
Rents & Rates 564,245.00 580,043.00 580,043.00 547,670.00 (32,373.00) (5.91) 4,100,073.00
Electricity 68,144.00 62,695.26 54,508.00 75,694.00 21,186.00 27.99 446,112.56
Postages 33,912.00 34,699.00 30,306.00 76,158.00 45,852.00 60.21 422,900.00
Water & Conservancy 2,420.00 1,181.00 884.00 1,900.00 1,016.00 53.47 20,956.00
Internet Services 93,600.00 565,046.00 688,142.00 43,182.00 (644,960.00) (1493.59) 4,497,969.00
Telephones 147,593.00 159,665.00 169,826.00 381,355.00 211,529.00 55.47 1,415,679.68
P.R.& Business Prom. 47,300.00 43,600.00 121,246.00 156,549.00 35,303.00 22.55 516,030.00
Dailies & Periodicals 8,060.00 8,060.00 8,060.00 14,433.33 6,373.33 44.16 54,800.00
Printing & Stationery 45,415.00 233,651.00 85,990.00 411,639.00 325,649.00 79.11 1,775,182.76
Depreciation 119,353.59 199,515.00 199,515.00 152,456.00 (47,059.00) (30.87) 1,396,605.00
Trade Licences 26,425.00 26,425.00 33,611.67 37,342.00 3,730.33 9.99 184,975.00
Computer Charges - - - 7,500.00 7,500.00 100.00 922,199.00
Office Cleaning 25,480.00 29,348.00 30,950.00 11,679.00 (19,271.00) (165.01) 184,376.03
Office Maintenance - - - 106,966.67 106,966.67 100.00 -
Repairs to O/Furniture & Equipment 24,754.00 15,256.00 10,100.00 - (10,100.00) 0.00 90,155.59
soft ware maintainance 25,000.00 22,750.00 - 137,683.00 137,683.00 100.00 171,800.00
Discount Allowed - - - - - 0.00 -
Donations & Subscription 69,198.00 16,388.00 3,200.00 150,319.00 147,119.00 97.87 55,724.00
Legal & Proffesional Fees 61,867.00 - 133,139.00 436,207.67 303,068.67 69.48 231,899.00
Audit Fees 37,500.00 45,907.00 45,907.00 46,352.33 445.33 0.96 321,349.00
Recoverable Expenses 506,514.00 326,298.93 358,570.00 328,296.00 (30,274.00) (9.22) 2,983,647.87
SUB TOTAL 2,112,258.76 2,599,920.19 2,750,042.67 3,517,221.00 767,178.33 21,417,020.34
TOTAL ADMIN. EXPENSES 5,451,819.41 6,186,446.78 6,728,381.55 7,112,854.97 384,473.42 43,007,430.93
FINANCIAL EXPENSES -
Bank Charges 65,267.00 62,638.50 70,178.50 70,479.00 300.50 0.43 533,211.50
SUB TOTAL 65,267.00 62,638.50 70,178.50 70,479.00 300.50 533,211.50
TOTAL EXPENSES 30,828,628.72 27,736,144.42 30,752,552.59 35,411,429.83 4,658,877.24 13.16 229,247,702.85
Profit/(Loss)Before Interest 6,848,142.28 (2,442,253.28) (2,652,777.75) 9,057,484.15 11,710,261.90 129.29 7,050,800.79
Interest on Loan 1 - - - - - -
Interest on Loan 2 21,077.94 25,685.43 25,976.65 4,436.87 (21,539.77) (485.47) 170,677.97
Profit/(Loss)After Interest 6,827,064.34 (2,467,938.72) (2,678,754.39) 9,053,047.28 11,731,801.67 6,880,122.81
