July 6, 2026

Atlantic Hardware & Plumbing Company Limited (AHPC)
Audited financials for the twelve months ended December 31, 2025:

Atlantic Hardware & Plumbing Company Limited (AHPC) for the twelve months ended December 31, 2025 reported a 14% increase in Revenue totalling $1.82 billion compared to $1.60 billion in the corresponding period last year. The fourth-quarter Revenue amounted to $524.98 million, representing a 43% increase from $366.10 million for the comparable quarter of 2024.

Cost of Sales amounted to $1.26 billion (2024: $1.14 billion), representing an increase of 11% year over year. Consequently, Gross Profit increased by 20% to $551.78 million compared to $461.22 million for the twelve months ended December 31, 2024. Gross Profit for the fourth quarter amounted to approximately $173.90 million, representing a 50% increase from $116.06 million for the corresponding quarter of 2024.

Other Income increased by 4% to $17.88 million from $17.21 million in 2024. Selling, General and Administrative Expenses increased by 59% to $340.17 million compared to $213.70 million in the prior year. Consequently, Operating Profit decreased by 13% to $229.49 million compared to $264.74 million in 2024. For the fourth-quarter Operating Profit amounted to $54.48 million, representing a 31% decrease from $79.25 million in the corresponding quarter of 2024.

Gain on Sale of Fixed Assets increased to $27.80 million from $5.31 million, while Interest Income declined by 54% to $4.25 million from $9.15 million. As a result, Profit Before Interest, Taxation, Depreciation and Amortisation amounted to $261.54 million, representing a 6% decrease from $279.20 million in 2024.

Profit Before Interest, Taxation, Depreciation and amortization for the twelve months ended December 31, 2025 amounted to $261.54 million, representing a 6% decrease from $279.20 million in 2024. For the fourth-quarter the company recorded a Profit Before Interest, Taxation, Depreciation and amortization of approximately $175.69 million, compared to Profit Before Taxation of $197.41 million for the corresponding quarter of 2024.

Depreciation and Amortisation increased by 255% to $59.72 million from $16.80 million in the prior year. Interest Expense, however, decreased by 12% to $126.90 million compared to $144.45 million in 2024. Taxation Expense decreased by 78% to $6.03 million compared to $27.45 million in 2024.

Net Profit for the twelve months declined by 24% to $68.87 million from $90.50 million in the prior year. For the fourth quarter, the company recorded a Net Loss of $11.51 million, compared to Net Profit of $29.15 million in the corresponding quarter of 2024.

Consequently, Earnings Per Share for the twelve months amounted to $0.03 compared to $0.05 in 2024. The twelve-month trailing EPS was $0.03, and the number of shares used in these calculations was 2,449,999,800. Loss Per Share for the fourth quarter amounted to approximately $0.005, compared to Earnings Per Share of approximately $0.015 for the corresponding quarter of 2024.

Notably, AHPC’s stock price closed the trading period on July 3, 2026, at a price of $1.58 with a corresponding P/E ratio of approximately 57.35x.

Balance Sheet Highlights

The company’s Total Assets amounted to $1.49 billion at December 31, 2025, representing an 11% decrease from the restated balance of $1.68 billion in 2024. The decline was primarily driven by Property, Plant and Equipment, which fell to $62.02 million from $290.85 million, mainly following the disposal of the company’s land and building during the year. Right-of-Use Assets also decreased to $177.55 million from $208.44 million due mainly to depreciation.

Shareholders’ Equity improved to $480.07 million from a deficit of $49.08 million in 2024, representing a book value per share of approximately $0.19.

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