August 18, 2025
Stationery and Office Supplies Limited (SOS)
Unaudited financials for the six months ended June 30, 2025:
Stationery and Office Supplies Limited (SOS) for the six months ended June 30, 2025, reported a 3% increase in revenue totaling $985.23 million compared to $957.62 million in the corresponding period last year. Revenue for the second quarter increased by 3% to $447.76 million compared to $432.82 million for the comparable quarter of 2024.
Cost of sales amounted to $461.20 million (2024: $413.73 million), representing an increase of 11% year over year. Consequently, gross profit decreased by 4% to $524.03 million compared to $543.90 million for the six months ended June 30, 2024. The company reported gross profit of $248.59 million for the second quarter versus $253.17 million for the comparable quarter of 2024.
Administrative and general expenses increased by 11% to $323.66 million (2024: $290.99 million), while selling and promotional costs increased by 2% from $80.31 million in 2024 to $82.10 million in the period under review. Depreciation and amortisation for the six months ended June 30, 2025, amounted to $22.39 million, a 13% increase relative to $19.84 million reported in 2024.
Operating profit for the six months ended June 30, 2025, amounted to $97.00 million, a 36% decrease relative to $152.76 million reported in 2024. Operating profit for the second quarter amounted to $17.92 million (2024: $44.57 million). Finance costs totaled $1.57 million, a 29% increase from the corresponding period last year (2024: $1.22 million).
Profit before tax for the six months ended June 30, 2025, amounted to $106.73 million, a 32% decrease relative to $156.66 million reported in 2024. Profit before tax for the second quarter amounted to $23.05 million (2024: $47.41 million).
Gain on foreign exchange for the six months ended June 30, 2025, increased by 300% to $4.01 million (2024: gain of $1.00 million). Profit on disposal of property, plant, and equipment for the six months amounted to $1.20 million. For the second quarter, profit on disposal of property, plant, and equipment was also $1.20 million.
Income tax expense decreased by 32% to $13.33 million (2024: $19.60 million). Income tax expense for the quarter totaled $3.21 million compared to $5.93 million in the prior year’s quarter.
Net profit for the period totaled $93.39 million relative to $137.07 million reported in the prior year. For the quarter, net profit amounted to $19.84 million compared to $41.49 million reported in 2024.
Consequently, earnings per share for the six months amounted to $0.04 (2024: $0.06), while earnings per share for the quarter totaled $0.01 (2024: $0.02). The twelve-month trailing EPS was $0.08, and the number of shares used in these calculations was 2,251,084,500.
Notably, SOS’s stock price closed the trading period on August 15, 2025, at $1.61 with a corresponding P/E ratio of 20.23x.
Balance Sheet Highlights:
The company’s assets totaled $2.04 billion (2024: $1.86 billion). This increase was attributable to cash and cash equivalents, which amounted to $472.47 million (2024: $299.00 million).
Shareholders’ equity was $1.65 billion (2024: $1.47 billion), representing a book value per share of $0.73 (2024: $0.65).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.