August 18, 2026
Eppley Caribbean Property Fund Limited SCC – Value Fund (CPFV)
Unaudited financials for the nine months ended June 30, 2026:
Eppley Caribbean Property Fund Limited SCC – Value Fund (CPFV) for the nine months ended June 30, 2026, reported a 13% increase in Net rental income totalling Bd$5.93 million compared to Bd$5.23 million for the corresponding period of 2025. Net rental income for the third quarter increased 9% to close at Bd$2.18 million relative to Bd$2.01 million for the comparable quarter of 2025, supported by higher occupancy and contractual rent increases.
Share of profit of investments accounted for using equity accounting advanced 3% to Bd$2.74 million (2025: Bd$2.66 million), while for the quarter it rose 4% to Bd$877,165 (2025: Bd$843,460). Interest income declined 2% to Bd$543,999 (2025: Bd$555,745), and Other income of Bd$30,001 was recorded (2025: nil). No fair value gains on investment properties were recognised in either nine-month period, with independent appraisals conducted semi-annually.
Consequently, Total investment income for the nine months amounted to Bd$9.25 million, a 9% increase relative to Bd$8.45 million reported in 2025, while Total investment income for the third quarter rose 7% to Bd$3.24 million (2025: Bd$3.03 million).
Operating expenditure for the nine months totalled Bd$4.58 million, a 3% increase relative to Bd$4.43 million reported in 2025. Interest Expense declined 1% to Bd$2.46 million (2025: Bd$2.50 million), while Fund management fees and Investment advisor fees each rose 8% to Bd$782,555 (2025: Bd$726,304 each) and Professional fees increased 9% to Bd$519,206 (2025: Bd$474,257). A foreign exchange loss of Bd$81,052 was recorded (2025: gain of Bd$31,810), partly offset by an impairment reversal on receivables of Bd$63,599 (2025: nil). For the quarter, operating expenditure rose 8% to Bd$1.50 million (2025: Bd$1.39 million).
As a result, Profit before tax for the nine months ended June 30, 2026, amounted to Bd$4.67 million, a 16% increase relative to Bd$4.02 million reported in 2025. Profit before tax for the third quarter was Bd$1.74 million, a 6% increase relative to Bd$1.64 million in 2025.
Taxation for the nine months amounted to Bd$391,626, a 62% increase relative to Bd$241,278 reported in 2025. As such, Net profit for the nine months ended June 30, 2026, rose 13% to reach Bd$4.28 million (2025: Bd$3.78 million). Net profit for the third quarter amounted to Bd$1.61 million, an 8% increase relative to Bd$1.48 million booked for the similar quarter of 2025.
Total comprehensive income for the nine months closed at Bd$3.35 million (2025: Bd$241,190), following a translation reserve movement of negative Bd$929,220 (2025: negative Bd$3.54 million).
Consequently, Earnings Per Share for the nine months amounted to Bd$0.032 or J$2.50 (2025: EPS: Bd$0.028 or J$2.24), while Earnings Per Share for the quarter totalled Bd$0.012 or J$0.94 (2025: EPS: Bd$0.011 or J$0.88). The twelve-month trailing EPS was Bd$0.1119 or J$8.85, and the number of shares used in these calculations was 135,517,592.
Notably, CPFV’s stock price closed the trading period on August 17, 2026, at a price of J$44.00, with a corresponding P/E ratio of 4.97x.
Balance Sheet Highlights
The Fund’s assets totalled Bd$193.45 million (2025: Bd$180.24 million), an increase of 7% or Bd$13.21 million. Notably, Investment properties led the growth in total assets with an increase of Bd$11.58 million or 11% to close at Bd$118.16 million. Investment in associated companies and joint ventures advanced Bd$3.21 million or 6% to Bd$54.22 million, Investment Securities rose Bd$312,000 or 3% to Bd$10.76 million, and Due from related parties increased Bd$117,517 to Bd$1.91 million. These increases were partly offset by a Bd$1.48 million or 20% reduction in Cash and cash equivalents to Bd$5.79 million and a Bd$528,468 or 18% decline in Accounts receivable and prepaid expenses to Bd$2.46 million.
Total Liabilities amounted to Bd$54.02 million (2025: Bd$53.75 million), broadly flat year over year. Loans payable declined 1% to Bd$50.42 million (2025: Bd$50.96 million), while Accounts payable and accrued expenses rose 37% to Bd$1.81 million (2025: Bd$1.32 million) and Deferred tax increased to Bd$450,844 (2025: Bd$256,198).
Shareholder’s funds were Bd$139.43 million (2025: Bd$126.49 million), an increase of 10%, representing a net asset value per share of Bd$1.03 or J$81.40 (2025: Bd$0.93 or J$75.06). The Fund closed the period with Bd$5.8 million of liquidity.
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