May 14, 2026

Berger Paints Jamaica Limited (BRG)

Unaudited financials for the three months ended March 31, 2026:

Berger Paints Jamaica Limited (BRG) for the three months ended March 31, 2026, reported a 16% increase in Revenue totaling $890.27 million compared to $769.17 million in the corresponding period last year. According to the Directors’ Statement, the Company opened 2026 with a return to growth, delivering a quarter that demonstrates the impact of the strategic and operational work undertaken over the past period. Demand strengthened progressively through the quarter as rebuilding activity accelerated following Hurricane Melissa’s disruption of Q4 2025, with the Company meeting that demand with high service levels and dependable supply.

• Raw materials and consumable used amounted to $674.44 million (2025: $261.71 million), this represents an increase of 158% year over year.
• Changes in inventories of finished goods and work in progress moved to a positive $251.66 million compared to a negative $119.89 million for the three months ended March 31, 2025, reflecting a meaningful inventory drawdown in the period.
• Employee benefits expense increased by 11% to close at $184.54 million (2025: $165.96 million).
• Other operating expenses increased by 31% from $172.15 million in 2025 to $226.07 million in the period under review.
• Manufacturing expenses for the three months ended March 31, 2026, amounted to $16.82 million, a 31% increase relative to $12.85 million reported in 2025.
• Depreciation amounted to $26.13 million, a 7% increase relative to $24.44 million reported in 2025.

Consequently, Total Expenses for the three months ended March 31, 2026, amounted to $876.33 million, a 16% increase relative to $756.99 million reported in 2025.

Other income totalled $23.77 million, a 400% increase from the corresponding period last year (2025: $4.76 million), supported by a swing in unrealised foreign exchange movements from a $12.77 million loss to a $6.93 million gain.

Profit before Taxation for the three months ended March 31, 2026, amounted to $37.72 million, a 123% increase relative to $16.94 million reported in 2025.

Taxation for the three months ended March 31, 2026, had a 19% increase to reach $7.17 million (2025: $6.02 million). As such, Net Profit for the period amounted to $30.55 million, a 180% increase from the $10.92 million reported in 2025.

Consequently, Earnings Per Share for the period amounted to $0.14 (2025: EPS: $0.05). The twelve-month trailing EPS was $0.14, and the number of shares used in these calculations was 214,322,393.

Notably, BRG’s stock price closed the trading period on May 14, 2026, at a price of $4.81 with a corresponding P/E ratio of 35.58x.

Balance Sheet Highlights

The company’s assets totalled $2.59 billion (2025: $2.51 billion). The marginal growth in total assets was driven by ‘Inventories’ increasing by $208.26 million or 29% to close the period at $920.36 million, partially offset by a decline in ‘Trade and other receivables’ of $150.34 million or 17% to $740.92 million.

Shareholder’s equity was $1.10 billion (2025: $1.18 billion), representing a book value per share of $5.13 (2025: $5.50).

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