May 14, 2025
138 Student Living Ltd.(138SL)
Unaudited financials for the six months ended March 31, 2025:
138 Student Living Ltd. (138SL) for the six months ended March 31, 2025, reported a 0.45% increase in Income totaling $719.26 million compared to $716.03 million in the corresponding period last year. Income for the second quarter had a 5% decrease to close at $345.02 million compared to $364.63 million for the comparable quarter of 2024.
Other Operating Income amounted to $76.30 million (2024: $64.91 million), an increase of 18% year over year. Consequently, total revenue increased by 2% to $795.55 million compared to $780.94 million for the six months ended March 31, 2024. The company booked total revenue of $383.85 million for the second quarter versus $402.75 million reported for the similar quarter of 2024.
Administrative and other expenses increased by 12% to close at $453.29 million (2024: $404.19 million), while Profit From Operation decreases by 9% from $376.75 million in 2024 to $342.26 million in the period under review. As a result, finance costs for the six months ended March 31, 2025, amounted to $152.27 million, a 12% decrease relative to $172.68 million reported in 2024.
Profit Before Taxation for the six months ended March 31, 2025, amounted to $189.99 million, a 7% decrease relative to $204.07 million reported in 2024. Profit Before Taxation for the second quarter amounted to $87.87 million (2024: $118.63 million). Taxation totaled $30.56 million, a 149% increase from last year’s corresponding period. (2024: $12.27 million).
Taxation for the six months ended March 31, 2025, increased by 149% to reach $30.56 million (2024: $12.27 million). Net Profit for the six months amounted to $159.43 million, a 17% decrease from the $191.80 million reported in 2024. For the second quarter, Net Profit was $77.00 million (2024: $120.97 million).
Consequently, Earnings Per Share for the six months amounted to $0.30 (2024: EPS: $0.36), while Earnings Per Share for the quarter totaled $0.14 (2024: EPS: $0.23). The twelve-month trailing EPS was $0.58, and the number of shares used in these calculations was 536,855,600.
Notably, 138SL’s stock price closed the trading period on May 13, 2025, at $3.82 with a corresponding P/E ratio of 6.56x.
Balance Sheet Highlights
The company’s assets totalled $10.51 billion (2024: $10.37 billion). The company’s asset base expanded due to a 6% year-over-year increase in financial assets related to service commission rights, reaching $9.02 billion by the end of the quarter, up from $8.52 billion in 2024.
Shareholder’s equity was $6.29 billion (2024: $5.53 billion), representing a book value per share of $11.72 (2024: $10.31).
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