May 13, 2025
Honey Bun Limited (HONBUN)
Unaudited Financials for the Six Months Ended March 31, 2025:
Honey Bun Limited (HONBUN) reported an 8% increase in revenue for the six months ended March 31, 2025, totaling $2.10 billion compared to $1.94 billion in the corresponding period last year. Revenue for the second quarter increased by 6%, closing at $1.06 billion compared to $994.64 million for the comparable quarter of 2024.
Cost of Sales amounted to $1.12 billion (2024: $1.03 billion), representing an 8% year-over-year increase. Consequently, gross profit rose by 8% to $980.42 million, compared to $904.63 million for the six months ended March 31, 2024. The company recorded a gross profit of $480.55 million for the second quarter, versus $469.34 million reported for the similar quarter of 2024.
Administrative Expenses increased by 21% to $458.57 million (2024: $380.36 million), while Selling, Distribution & Promotion Expenses rose by 18%, from $298.79 million in 2024 to $353.67 million in the period under review. As a result, total operating expenses for the six months ended March 31, 2025, amounted to $812.24 million, a 20% increase relative to the $679.14 million reported in 2024.
Profit from operations for the six months ended March 31, 2025, amounted to $166.82 million, a 24% decrease compared to $220.79 million reported in 2024. Profit from operations for the second quarter was $58.70 million (2024: $106.44 million).
Finance Income totaled $4.49 million, a 46% decrease from $8.37 million in the corresponding period last year, while Finance Costs totaled $9.75 million, a 105% increase from $4.75 million in the prior year.
Profit before Taxation for the six months ended March 31, 2025, amounted to $163.17 million, a 27% decrease relative to $224.93 million reported in 2024. Profit before Taxation for the second quarter was $59.90 million (2024: $108.22 million). Taxation for the six months ended March 31, 2025, decreased by 27% to $41.92 million (2024: $57.19 million). Net Profit for the six months amounted to $121.24 million, a 28% decrease from the $167.74 million reported in 2024. For the second quarter, Net Profit was $44.32 million (2024: $81.24 million).
Consequently, Earnings Per Share (EPS) for the six months amounted to $0.26 (2024: $0.36), while EPS for the quarter totaled $0.09 (2024: $0.17). The twelve-month trailing EPS was $0.39, and the number of shares used in these calculations was 471,266,950.
Notably, HONBUN’s stock price closed the trading period on May 13, 2025, at $8.38, with a corresponding P/E ratio of 21.51x.
Balance Sheet Highlights
The company’s assets totaled $2.88 billion (2024: $1.94 billion). This increase in total assets was attributable to the right-of-use asset, which amounted to $768.46 million (2024: $58.44 million).
Shareholders’ equity was $1.55 billion (2024: $1.42 billion), representing a book value per share of $3.29 (2024: $3.02).
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