January 14, 2026
WEST INDIES PETROLEUM TERMINAL LIMITED (WIPT)
Unaudited financials for the nine-months ended September 30, 2025:
Expressed in United States dollars (except where indicated otherwise)
WEST INDIES PETROLEUM TERMINAL LIMITED (WIPT) for the Nine months ended September 30, 2025, reported a 5% decrease in Revenue totaling $6.36 million compared to $6.69 million in the corresponding period last year. Revenue for the third quarter had an 8% decrease to close at $2.18 million compared to $2.38 million for the comparable quarter of 2024.
Other income amounted to $137,155 (2024: $36), this represents an increase of 380886% year over year. Consequently, total revenue decreased by 3% to $6.50 million compared to $6.69 million for the Nine months ended September 30, 2024. The company booked total revenue of $2.23 million for the third quarter versus $2.38 million reported for the similar quarter of 2024.
Management highlighted, “WIPT’s performance was driven by a slight year-to-date revenue decline from US$6.7 million to US$6.5 million, primarily due to lower throughput volumes, though partially offset by rate increases linked to U.S. CPI adjustments. The revenue mix shifted significantly with third-party storage fees rising to US$2.4 million (43% of storage revenues) from US$0.6 million (10%) and throughput revenues from third parties increasing to US$0.4 million (6% of total revenue) from zero, following the acquisition of contracts from an Oil Supermajor. Despite a 6% quarterly and 3% YTD revenue decline, management expects an immediate reversal driven by CET waiver benefits and higher volumes from a major client with the island’s largest gas station network. Continued diversification and anticipated growth in third-party storage and throughput volumes remain key performance drivers for 2026.”
Operating and Admin expenses decreased by 4% to close at $3.65 million (2024: $3.79 million), while Net impairment loss on financial asset increased from $0 in 2024 to $115,883 in the period under review. As a result, operating profit for the Nine months ended September 30, 2025, amounted to $2.73 million, a 6% decrease relative to $2.90 million reported in 2024. Operating profit for the third quarter declined by 22% from $1.15 million in 2024 to $903,468 in 2025.
Net Finance costs for the Nine months ended September 30, 2025, amounted to $689,471, an 8% increase relative to $749,072 reported in 2024.
Profit Taxation totalled $2.04 million a 5% decrease from the corresponding period last year. (2024: $2.15 million).
Taxation charge for the Nine months ended September 30, 2025, amounted to $115,646, a 35% increase relative to $85,883 reported in 2024. As such, Net Profit for the Nine months ended September 30, 2025, had a 6% decrease to reach $1.93 million (2024: $2.06 million). For the third quarter, Net profit amounted to $648,083, a 25% decrease from $868,000 reported in 2024.
Consequently, Earnings Per Share for the Nine months amounted to J$0.029 (2024: EPS: J$0.028), while Earnings Per Share for the quarter totaled J$0.012 (2024: EPS: J$0.009). The twelve-month trailing EPS was J$0.013 and the number of shares used in these calculations was 11,180,372,000.
Notably, WIPT’s stock price closed the trading period on January 13, 2026, at a price of J$12.27 with a corresponding P/E ratio of 941.50x.
Balance Sheet Highlights
The company’s assets totalled $42.87 million (2024: $35.83 million). The growth in total assets was mainly due to a 13% or $4.29 million increase in ‘PPE’. Also, ‘Due from related party’ increased by $1.99 million, while ‘Right of use asset’ grew by $819,331.
Shareholder’s equity was $28.99 million (2024: $22.36 million), representing a book value per share of J$0.42 (2024: J$0.32).
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