April 14, 2026

Express Catering Limited (ECL)

Unaudited financials for the nine months ended February 28, 2026:

All figures are stated in USD unless otherwise indicated

Express Catering Limited (ECL) for the nine months ended February 28, 2026, reported a 28% decrease in Revenue totaling US$13.58 million compared to US$18.89 million in the corresponding period last year. Revenue for the third quarter decreased by 49% to close at US$3.82 million compared to US$7.43 million for the comparable quarter of 2025.

Cost of Sales amounted to US$3.45 million (2025: US$5.31 million), representing a 35% decrease year over year. Consequently, gross profit decreased by 25% to US$10.13 million compared to US$13.57 million for the nine months ended February 28, 2025. The company booked gross profit of US$2.92 million for the third quarter versus US$5.49 million reported for the similar quarter of 2025.

Depreciation and amortization decreased by 2% to close at US$2.78 million (2025: US$2.82 million), while Administrative Expenses decreased by 20% from US$5.35 million in 2025 to US$4.28 million in the period under review. Promotional Expenses decreased by 84% from US$231,485 in 2025 to US$36,486 in the current period. As a result, total expenses for the nine months ended February 28, 2026, amounted to US$7.10 million, a 16% decrease relative to US$8.41 million reported in 2025.

Operating Profit for the nine months ended February 28, 2026, amounted to US$2.99 million, a 41% decrease relative to US$5.10 million reported in 2025. Operating profit for the third quarter amounted to US$822,992 (2025: US$2.38 million).

Finance Cost totaled US$1.94 million, a 3% increase from the corresponding period last year (2025: US$1.89 million). Finance Income increased significantly to US$587,509 compared to US$432 in the prior year period.

Foreign Exchange Loss for the nine months ended February 28, 2026, amounted to US$14,036, compared to a Foreign Exchange Gain of US$11,574 reported in 2025. Foreign Exchange Loss for the third quarter amounted to US$16,112 (2025: Foreign Exchange Loss of US$139).

Profit for the period, being Total Comprehensive Income, for the nine months amounted to US$1.62 million, representing a 50% decrease from the US$3.22 million reported in 2025. For the third quarter, the company reported a net profit of US$647,787, compared to a net profit of US$1.77 million in the corresponding quarter of 2025, a decrease of 63%.

Consequently, Earnings Per Share for the nine months amounted to 0.099 US cents, equivalent to approximately J$0.16 per share (2025: 0.197 US cents, or approximately J$0.31). For the third quarter, the company reported Earnings Per Share of 0.040 US cents, equivalent to approximately J$0.06 (2025: Earnings Per Share of 0.108 US cents, or approximately J$0.17). The twelve-month trailing EPS was 0.13 US cents, or approx. J$0.21 and the number of shares used in these calculations was 1,637,500,000.

Notably, ECL’s stock price closed the trading period on April 13, 2026, at a price of $2.48 with a corresponding P/E ratio of 11.78x.

Balance Sheet Highlights

The company’s assets totalled US$60.43 million (2025: US$58.94 million as at May 31, 2025). Current assets increased to US$22.92 million from US$18.81 million, primarily driven by amounts owing by related companies which rose to US$21.73 million from US$16.93 million).

Shareholder’s equity was US$11.83 million (2025: US$10.21 million as at May 31, 2025), representing a book value per share of J$1.14 (2025: J$1.00).

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