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FY2020 Annual Report: Pason Systems profits hit by 90% fall Corporate Wire Date: 19 April 2021 12:35 EDT Release Date: April 01, 2021

Apr 20, 2021 - News Bites Canadian Markets

CANADIAN RESULTS

Pason Systems (TSX:PSI) reported net profit for the year-ended 31 December 2020 [FY2020] of CAD5.1m ($4.0m), down 90.5% from CAD53.8m ($41.2m) in the previous year [FY2019]. Earnings per share (EPS) were down 87.3% from 63.0c (US48.28c) in FY2019 to 8.0c (US6.25c) in FY2020.

Major changes compared with previous year (FY2020 vs FY2019):

Favourable Changes:- Working capital to total assets up from 42.0% to 46.3%- Current ratio up 61.2% from 4.2 to 6.7- Total Liab...