May 16, 2025
Kingston Wharves Limited (KW)
Unaudited financials for the first quarter ended March 31, 2025:
Kingston Wharves Limited (KW) for the first quarter, ended March 31, 2025, reported a 10% increase in revenue totalling $2.82 billion compared to $2.57 billion in the corresponding three months last year.
Cost of sales amounted to $1.59 billion (2024: $1.42 billion), this represents an increase of 12% year over year. Consequently, gross profit increased by 6% to $1.23 billion compared to $1.15 billion for the first quarter ended March 31, 2024.
Other operating income increased by 64% to close at $237.34 million (2024: $144.51 million), while administrative expenses increased by 18% from $424.48 million in 2024 to $500.43 million for the three months. As a result, Operating Profit for the first quarter amounted to $962.81 million, a 10% increase relative to $872.83 million reported in 2024.
Profit Before Tax for the three months amounted to $884.54 million, a 6% increase relative to $838.06 million reported in 2024. Finance Costs totalled $78.27 million, a 125% increase from the corresponding period last year (2024: $34.76 million).
Taxation for the first quarter ended March 31, 2025, amounted to $88.05 million, a 4% decrease relative to $91.84 million reported in 2024.
Net Profit for the three months had a 7% increase to reach $796.49 million (2024: $746.23 million). Net profit attributable to shareholders for the three months amounted to $760.17 million, a 6% increase from the $716.01 million reported in 2024.
Consequently, Earnings per share for the three months amounted to $0.53 (2024: EPS: $0.50). The twelve-month trailing EPS was $1.86, and the number of shares used in these calculations was 1,430,199,578. Notably, KW’s stock price closed the trading period on May 15, 2025, at a price of $29.14, with a corresponding P/E ratio of 15.70x.
Balance Sheet Highlights:
The company’s assets totalled $60.32 billion; a 3% increase from $58.72 billion booked in 2024. This increase was attributable to property, plant and equipment which amounted to $43.82 billion (2024: $42.83 billion).
Shareholder’s equity was $48.19 billion (2024: $46.80 billion), representing a book value per share of $33.70 (2024: $32.72).
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