November 20, 2024
138 Student Living Ltd.(138SL)
Unaudited financials for the twelve months ended September 30, 2024:
138 Student Living Ltd. (138SL) for the twelve months ended September 30, 2024 reported a 6% increase in Income totaling $1.37 billion compared to $1.30 billion in the corresponding period last year. Income for the fourth quarter had a 4% increase to close at $327.36 million compared to $314.43 million for the comparable quarter of 2023.
Other Operating Income amounted to $155.42 million (2023: $97.37 million), this represents an increase of 60% year over year. Consequently, total revenue increased by 10% to $1.53 billion compared to $1.39 billion for the twelve months ended September 30, 2023. The company booked total revenue of $372.02 million for the fourth quarter versus $342.89 million reported for the similar quarter of 2023.
Administrative and other expenses increased by 21% to close at $818.42 million (2023: $678.68 million), while Profit From Operation decreased by 1% from $715.26 million in 2023 to $711.09 million in the period under review. As a result, finance costs for the twelve months ended September 30, 2024 amounted to $331.79 million, a 8% decrease relative to $360.86 million reported in 2023.
Profit Before Taxation for the twelve months ended September 30, 2024, amounted to $379.30 million, a 7% increase relative to $354.39 million reported in 2023. Profit Before Taxation for the fourth quarter amounted to $56.04 million (2023: $64.52 million). Taxation totalled $29.50 million a 159% increase from the corresponding period last year. (2023: $11.39 million).
Net Profit for the twelve months amounted to $349.80 million, a 2% increase from the $343.00 million reported in 2023. For the fourth quarter, Net Profit was $50.19 million (2023: $60.84 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.65 (2023: EPS: $0.64), while Earnings Per Share for the quarter totaled $0.09 (2023: EPS: $0.11). The number of shares used in these calculations was 536,855,600.
Notably, 138SL’s stock price closed the trading period on November 19, 2024 at a price of $4.10 with a corresponding P/E ratio of 6.29x.
Balance Sheet Highlights
The company’s assets totalled $10.48 billion (2023: $9.89 billion). The overall growth in the company’s total asset base is primarily attributed to a 7% year-over-year increase in “Financial asset-service commission rights,” which reached $9.10 billion (up from $8.51 billion in 2023), and an 81% year-over-year rise in “Cash and cash equivalents,” which ended the year at $101.42 million (compared to $55.95 million in 2023).
Shareholder’s equity was $6.24 billion (2023: $4.88 billion), representing a book value per share of $11.62 (2023: $9.09).
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