August 13, 2025
Sterling Investments Limited (SIL)
Unaudited financials for the six months ended June 30, 2025:
Sterling Investments Limited (SIL) for the six months ended June 30, 2025, reported a 9% increase in Interest Income totaling $67.45 million compared to $61.75 million in the corresponding period last year. Interest Income for the second quarter had a 35% increase to close at $32.86 million compared to $24.33 million for the comparable quarter of 2024.
Foreign exchange gains amounted to $49.40 million (2024: $12.23 million), this represents an increase of 304% year over year. Consequently, total revenue increased by 76% to $126.90 million compared to $72.15 million for the six months ended June 30, 2024. The company booked total revenue of $58.16 million for the second quarter versus $42.18 million reported for the similar quarter of 2024.
Interest expense decreased by 47% to close at $7.44 million (2024: $14.14 million), while Other Operating expenses decreased by 24% from $32.29 million in 2024 to $24.64 million in the period under review. As a result, total expenses for the six months ended June 30, 2025, amounted to $44.24 million, a 5% decrease relative to $46.44 million reported in 2024.
Operating Profit totalled $82.67 million a 221% increase from the corresponding period last year. (2024: $25.71 million). For the second quarter, Operating profit amounted to $35.79 million (2024: $16.51 million).
Management highlighted, “The company’s strong performance in Q2 and the first half of 2025 was primarily driven by higher foreign exchange gains, increased interest income, and gains on sale of investments, alongside reduced interest and operating expenses due to lower Fed Funds rates and audit fee accruals. These factors collectively led to significant improvements in both revenue and net profit year-over-year.”
Other Income for the six months ended June 30, 2025, amounted to $58,272, increase relative to other expense of 1,225 reported in 2024.
No taxes were reported. As such Net Income for the six months ended June 30, 2025, had a 222% increase to reach $82.72 million (2024: $25.71 million). Net profit for the quarter increased by 117% from $16.51 million in 2024 to $35.79 million in 2025.
Consequently, Earnings Per Share for the six months amounted to $0.19 (2024: EPS: $0.06), while Earnings Per Share for the quarter totaled $0.08 (2024: EPS: $0.04). The twelve-month trailing EPS was $0.27, and the number of shares used in these calculations was 435,309,161.
Notably, SIL’s stock price closed the trading period on August 12, 2025, at a price of $2.80 with a corresponding P/E ratio of 10.25x.
Balance Sheet Highlights
The company’s assets totalled $1.73 billion (2024: $1.80 billion). The downturn in total assets was due to a $173.87 million decline in Investment Securities, which was partly offset by a $104.74 million increase in Due from related company.
Shareholder’s equity was $1.55 billion (2024: $1.43 billion), representing a book value per share of $3.57 (2024: $3.27).
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