NEW YORK, NY–(Marketwired – May 27, 2016) – United Communications Partners (OTC PINK: UCPA)
Letter of CEO
We hereby file the UCP Quarterly Report for Q1 2016. The complete report can be viewed here. http://www.ucpworld.com/wp-content/uploads/2016/05/UCP-Financial-statements-Q1-2016.pdf
In addition to the report, we want to highlight the following in the UCP group development:
Net revenues and media billings
Net revenues are 34% higher compared with the same period in 2015. This is both a consequence of new clients won the second half of 2015 and increased sales of services to current clients.
Compared with last year the clients’ media investments, including minority interest companies, have increased with 17%. Our share of the aggregated media spend for all companies in the group increased by 35% ($6.8 MUSD) in the first three months of the year. The increased media investments are both a consequence of new clients and current clients investing more in 2016 compared to the first quarter 2015.
Clients’ media investments in the second quarter of 2016 are so far also higher than last year, it remains uncertain whether the increase will continue the second half of the year
Gross profit and result of operations
Gross profit for the group has increased 48% compared to the first three months 2015, at the same time the Gross profit margin increased from 7.3% last year to 8.0% this year. The latter confirms that our focus on increased sales have been successful.
The operations generated a profit of $136,000 the first quarter compared to a loss of $212,000 the same period last year. The selling, general and administrative expenses of the operations have increased 3.6% so far this year. The increased scope of our operations will increase the expenses the last half year of 2016 due to increased number of staff and investments in training, systems and tools, but we aim to keep our organization both efficient and effective, with a firm focus on creating better results both for us and for our clients.
Loss before taxes and minority interest
Profit before taxes and minority interests generated the first three months is $142,000 compared to a loss of $187,000 in 2015. The profit available to shareholders for the three months ended March 31, 2016 is $80,000.
The year has started well and the group’s performance to date is good and represents a great improvement. The outlook for the rest of the year is also cautiously positive. We will continue to strive for further growth, and increased profitability for the group.
Article source: http://www.otcmarkets.com/stock/UCPA/news?id=132839