June 30, 2025

R.A. WILLIAMS DISTRIBUTORS LIMITED (RAWILL)

Audited financials for the twelve months ended April 30, 2025:

R.A. WILLIAMS DISTRIBUTORS LIMITED (RAWILL) for the twelve months ended April 30, 2025, reported a 7% increase in Revenue totaling $1.60 billion compared to $1.50 billion in the corresponding period last year. Revenue for the fourth quarter had an 11% increase to close at $407.32 million compared to $367.64 million for the comparable quarter of 2024.

For the period under review, cost of sales amounted to $860.47 million (2024: $804.15 million), this represents an increase of 7% year over year. Consequently, gross profit increased by 7% to $740.22 million compared to $692.74 million for the twelve months ended April 30, 2024. The company booked gross profit of $175.31 million for the fourth quarter versus $141.19 million reported for the similar quarter of 2024.

Administrative and general expenses increased by 37% to close at $401.05 million (2024: $293.05 million), while selling and distribution expenses decreased by 6% from $246.31 million in 2024 to $231.60 million in the period under review. As a result, total expenses for the twelve months ended April 30, 2025, amounted to $632.65 million, a 17% increase relative to $539.36 million reported in 2024.

Operating Profit for the twelve months ended April 30, 2025, amounted to $107.57 million, a 30% decrease relative to $153.39 million reported in 2024. Operating Profit for the fourth quarter amounted to $25.72 million (2024: Operating loss of $15.00 million). Other Income totaled $175,393, a 10% increase from the corresponding period last year. (2024: $159,102).

Finance Costs for the twelve months ended April 30, 2025, amounted to $71.02 million, a 58% increase relative to $44.88 million reported in 2024. Finance Costs for the fourth quarter amounted to $18.20 million (2024: $13.97 million).

Profit before Taxation for the twelve months ended April 30, 2025, had a 66% decrease to reach $36.73 million (2024: $108.66 million).

The tax charge incurred for the twelve months amounted to $8.15 million, a 65% decrease from the $23.15 million reported in 2024. As a result, net profit for the year ended April 30, 2025, amounted to $28.58 million (2024: $85.51 million).

Consequently, Earnings Per Share for the twelve months amounted to $0.01 (2024: EPS: $0.04), while Earnings Per Share for the quarter totaled $0.003 (2024: LPS: $0.01). The number of shares used in these calculations was 2,000,000,000.

Notably, RAWILL’s stock price closed the trading period on June 27, 2025 at a price of $0.48 with a corresponding P/E ratio of 33.59x.

Balance Sheet Highlights

The company’s assets totaled $1.75 billion (2024: $1.37 billion). The movement in total assets was primarily attributable to a 91% increase in ‘Trade and other receivables’ amounting to $554.71 million ($290.32 million) and $155.08 million increase in ‘Inventories’ amounting to $722.64 million ($567.56 million). Conversely, ‘Cash and bank balances’ decreased by 42% amounting to $64.62 million (2024: $111.62 million).

Shareholder’s equity was $770.20 million (2024: $386.38 million), representing a book value per share of $0.39 (2024: $0.19).

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