May 18, 2026
Atlantic Hardware & Plumbing Co. Ltd. (AHPC)
Unaudited financials for the first quarter ended March 31, 2026:
Atlantic Hardware & Plumbing Co. Ltd. (AHPC) for the first quarter ended March 31, 2026, reported a 50% increase in Revenue totalling $687.15 million compared to $459.51 million in the corresponding three months last year.
Cost of Sales amounted to $482.85 million (2025: $328.69 million), representing an increase of 47% year over year. Consequently, Gross Profit increased by 56% to $204.30 million compared to $130.82 million for the first quarter ended March 31, 2025.
Other Income decreased by 19% to close at $9.98 million (2025: $12.37 million), while Selling, General and Administrative Expenses increased by 74% from $66.95 million in 2025 to $116.75 million for the three months.
Operating Profit for the first quarter amounted to $97.53 million, a 28% increase relative to $76.24 million reported in 2025. Finance Costs totalled $23.28 million, a 47% decrease from the corresponding period last year (2025: $43.70 million).
Profit Before Tax for the first quarter ended March 31, 2026, amounted to $74.25 million, a 128% increase relative to $32.54 million reported in 2025.
Taxation for the three months amounted to nil, compared to $8.14 million reported in 2025. Net Profit for the three months amounted to $74.25 million, a 204% increase from the $24.41 million reported in 2025.
Consequently, Earnings Per Share for the three months amounted to $0.030 (2025: EPS: $0.010). The twelve-month trailing EPS was $0.07, and the number of shares used in these calculations was 2,449,999,800. Notably, AHPC’s stock price closed the trading period on May 15, 2026, at a price of $1.68 with a corresponding P/E ratio of 24.84x.
Balance Sheet Highlights
The company’s assets totalled $1.57 billion (2025: $1.42 billion). The increase in total assets was mainly driven by Cash and Cash Equivalents, which rose to $206.57 million from $69.96 million, as well as higher Inventory, which increased to $724.34 million from $683.50 million. Accounts Receivable and Prepayments also increased to $458.48 million from $395.87 million. This was partly offset by a decline in Non-current Assets to $180.96 million from $270.00 million, primarily due to lower Property, Plant and Equipment.
Shareholders’ Equity was $604.68 million (2025: $435.60 million), representing a book value per share of $0.25 (2025: $0.18).
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