August 7, 2025

Fosrich Company Limited (FOSRICH)

Unaudited financials for the six months ended June 30, 2025:

Fosrich Company Limited (FOSRICH) for the six months ended June 30, 2025, reported a 9% decrease in Revenue totaling $1.59 billion compared to $1.74 billion in the corresponding period last year. Revenue for the second quarter had a 17% decrease to close at $734.40 million compared to $884.63 million for the comparable quarter of 2024.

Cost of Sales amounted to $1.01 billion (2024: $868.79 million), this represents an increase of 16% year over year. Consequently, gross profit decreased by 34% to $576.67 million compared to $875.67 million for the six months ended June 30, 2024. The company booked gross profit of $271.11 million for the second quarter versus $486.12 million reported for the similar quarter of 2024.

Other Income decreased by 31% to close at $5.95 million (2024: $8.58 million), while Administrative and other expenses increased by 3% from $656.63 million in 2024 to $677.81 million in the period under review. Also, share loss in associate for the six months ended June 30, 2025, amounted to $2.11 million, relative to $0 reported in 2024.

Consequently, Operating Loss for the six months ended June 30, 2025, amounted to $88.39 million, relative to operating profit of $227.62 million reported in 2024. Operating Loss for the second quarter amounted to $64.02 million (2024: Operating profit of $134.43 million).

Finance cost totalled $101.17 million, a 28% decrease from the corresponding period last year. (2024: $140.11 million).

Loss before taxation for the six months ended June 30, 2025, amounted to $189.56 million, relative to Profit before taxation of $87.50 million reported in 2024. Loss before taxation for the second quarter amounted to $120.96 million (2024: Pre-tax profit of $50.05 million).

No taxes were reported in the period (2024: Tax charge of $9.62 million). As such, Net loss for the six months amounted to $189.56 million, a 343% decrease from net profit of $77.88 million reported in 2024. For the second quarter, Net Loss was $120.96 million (2024: Net profit of $44.89 million).

FOSRICH highlighted, “During the current quarter, the Company experienced lower total sales income despite higher sales volumes, primarily due to global declines in PVC and solar panel prices, which were passed on to customers. Additionally, local housing-starts slowed as a result of elevated interest rates in Jamaica, with recent rate reductions yet to yield benefits. Operational performance was further impacted by international shipping disruptions, causing delays in both raw materials and finished goods, and interrupting manufacturing. However, improved credit terms from global partners—driven by shifts in the U.S. market—are expected to provide future financial advantages.”

Consequently, Loss Per Share for the six months amounted to $0.04 (2024: EPS: $0.02), while Loss Per Share for the quarter totaled $0.02 (2024: EPS: $0.01). The twelve-month trailing LPS was $0.05, and the number of shares used in these calculations was 5,078,485,197.

Notably, FOSRICH’s stock price closed the trading period on August 05, 2025, at a price of $2.76.

Balance Sheet Highlights

The company’s assets totalled $6.72 billion (2024: $6.19 billion). The movement in total assets was mainly due to a $596.75 million increase in ‘PPE’ during the period. ‘Due from related parties’ grew by $215.94 million but was offset by a $246.15 decline in ‘Associated company’ during the period.

Shareholder’s equity was $1.81 billion (2024: $2.12 billion), representing a book value per share of $0.36 (2024: $0.42).