March 2, 2026
KINGSTON PROPERTIES LIMITED(KPREIT)
Audited financials for the twelve months ended December 31, 2025:
KINGSTON PROPERTIES LIMITED (KPREIT) for the twelve months ended December 31, 2025, reported a 31% increase in Total Operating Revenues, amounting to US$6.35 million, compared to US$4.84 million recorded for the corresponding period in 2024. This performance was driven by higher rental income across the Group’s diversified property portfolio and increased management fee income arising from expanded operational activities.
Operating Expenses totalled US$2.29 million (2024: US$2.07 million), reflecting an 11% year‑over‑year increase, primarily attributable to higher salaries and related costs, regulatory fees, and property-related expenses incurred in maintaining and upgrading recently acquired assets. Consequently, Results of Operating Activities before Other Income rose 47% to US$4.06 million, up from US$2.77 million in 2024.
The Group recognised a fair value gain on investment properties of US$5.19 million, compared to US$3.05 million in the prior year, reflecting market valuation improvements across its Jamaica, Cayman, and UK assets. Gains on disposal of investment property amounted to US$114,341, compared to US$1.53 million in 2024. Meanwhile, the Group recorded a fair value loss on investments of US$ 2.94 million. The impairment allowance on financial assets totalled US$167,523 (2024: US$301,521) and Fees and Other Expenses amounted to US$15,310 (2024: US$200,071).
As a result, Operating Profit for the period was US$6.25 million, relative to US$6.84 million in 2024.
Finance Income increased to US$168,093 (2024: US$96,918) largely due to foreign exchange gains, while Finance Costs rose to US$2.28 million (2024: US$1.53 million) resulting from higher interest expenses associated with additional borrowings used to fund acquisitions and development activities. Consequently, Net Finance Costs amounted to US$2.11 million, compared to US$1.44 million in 2024.
Profit before Income Tax for the twelve-month period amounted to US$4.14 million, compared to US$5.40 million reported in 2024. The Group recorded an income tax credit of US$17,802 (2024: tax charge of US$25,570).
Consequently, Profit for the Year totalled US$4.16 million, relative to US$5.37 million reported in 2024.
Consequently, Earnings Per Share for the twelve months amounted to US$0.0047 (2024: EPS: US$0.0061), while Earnings Per Share for the quarter totaled US$0.0038 (2024: EPS: US$0.0036). The twelve-month trailing EPS was $0.75, and the number of shares used in these calculations was 884,000,000.
Notably, KPREIT’s stock price closed the trading period on February 27, 2026 at a price of $9.71 with a corresponding P/E ratio of 12.90x.
Balance Sheet Highlights
The company’s assets totaled US$94.23 million (2024: US$86.60 million). The movement in total assets was mainly influenced by US$9.46 million increase in ‘Investment properties’ amounting to US$85.18 million (2024: US$75.72 million).
Shareholders’ equity was US$55.47 million (2024: US$51.81 million), representing a book value per share of US$0.063 (2024: US$0.059).
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