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Sales Analysis FRBA
For the financial year Dec 31,23, First Bank sales were down 9.6% to $50.14 million from $55.44 million last year. We predict First Bank sales to go up to around $50.36 million during the next 12 months. The share price of First Bank has a positive sensitivity to increases to sales with forecast sales alone increasing the share price by 0.02%.
First Bank currently has 280 employees and with sales of $50.14 million this equates to sales of $179.07 thousand per employee.
Profitability
For Dec 31,23 Cost of goods sold was not reported. This cost represented 0.0% of overall sales unchanged from 0.0% last year and is expected to remain unchanged to 0.0% next year. We predict Cost of goods sold to move to around $0.0 during the next 12 months.
Selling General and Administrative expenses are up big% from last year, totaling $9.52 million and we expect SGA to move down to around $9.52 million during the next 12 months.
This meant gross income was $50.14 million making a gross profit margin of 100.0% of sales, which we expect to be 95.66% next year. The share price of First Bank has a positive sensitivity to increases to gross profit margin.
With 280 employees, the gross income is $179.07 thousand per employee.
Earnings
EBIT was 0.0% of sales and was unchanged since last year at $0.0 and we expect EBIT to be $0.0 next year.
Pre-tax income was 20.66% of sales and sharply decreased by 31.73% from last year's $15.17 million to $10.36 million this year and we expect it to be $8.97 million next year. First Bank paid $1977.0 thousand tax. Its effective tax rate was 19.09% from 17.52% last year and estimated as 18.9% next year.
Including discontinued income, after tax income was 16.71% of sales and, since last year, have fallen by 33.02%, from $12.51 million to $8.38 million this year and we expect it to be $7.19 million next year. Return on Equity was unchanged since last year at inf, and we expect it to be 7.19 million next year.