February 18, 2025
138 Student Living Ltd.(138SL)
Unaudited financials for the first quarter ended December 31, 2024:
138 Student Living Ltd. (138SL) for the first quarter of December 31, 2024, reported a 6% increase in income totaling $374.24 million compared to $351.41 million in the following three months last year. Other Operating Income amounted to $37.46 million (2023: $26.79 million), an increase of 40% year over year. Consequently, total revenue increased by 9% to $411.70 million compared to $378.19 million for the first quarter ended December 31, 2023.
Administrative and other expenses increased by 13% to close at $231.58 million (2023: $205.18 million), As a result, Profit from Operation increased by 4% from $173.01 million in 2023 to $180.12 million for the three months. Finance costs for the first quarter amounted to $77.99 million, an 11% decrease relative to the $87.57 million reported in 2023.
Profit Before Taxation for the three months amounted to $102.13 million, a 20% increase relative to the $85.44 million reported in 2023. Taxation totaled $19.70 million, a 35% increase from last year’s corresponding period. (2023: $14.60 million). Net Profit for the three months amounted to $82.43 million, a 16% increase from the $70.84 million reported in 2023.
Consequently, Earnings Per Share for the three months amounted to $0.15 (2023: EPS: $0.13). The twelve-month trailing EPS was $0.66, and the number of shares used in these calculations was 536,855,600. Notably, 138SL’s stock price closed the trading period on February 17, 2025, at $3.82, with a corresponding P/E ratio of 5.75x.
Balance Sheet Highlights
The company’s assets totaled $10.44 billion (2023: $10.32 billion). The overall growth in the company’s asset base is due to a 6% year-over-year increase in financial assets, specifically service commission rights, reaching $9.02 billion (up from $8.52 billion in 2023).
Shareholder’s equity was $6.22 billion (2023: $5.41 billion), representing a book value per share of $11.58 (2023: $10.08).
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