May 15, 2025
A.S. BRYDEN & SONS HOLDINGS LIMITED (ASBH)
Unaudited financials for the first quarter ended March 31, 2025:
Expressed in Trinidad and Tobago dollars unless otherwise indicated
A.S. BRYDEN & SONS HOLDINGS LIMITED (ASBH) for the first quarter ended March 31, 2025, reported a 63% increase in revenue totalling $1.02 billion compared to $629.79 million in the corresponding three months last year.
Direct expenses amounted to $739.62 million (2024: $457.39 million), this represents an increase of 62% year over year. Consequently, gross profit increased by 65% to $284.25 million compared to $172.40 million for the first quarter ended March 31, 2024.
Other expenses closed at $174,000 (2024: Other income of $233,000), while Administration and other operating expenses increased by 77% from $126.78 million in 2024 to $224.01 million for the three months. As a result, Operating Profit for the first quarter amounted to $60.06 million, a 31% increase relative to $45.85 million reported in 2024.
Share of results Of Associate for the three months amounted to $1.01 million, a 330% increase relative to $234,000 reported in 2024.
Finance costs totalled $23.32 million a 67% increase from the corresponding period last year. (2024: $13.92 million).
Profit before Taxation for the first quarter ended March 31, 2025, amounted to $37.75 million, a 17% increase relative to $32.16 million reported in 2024.
Taxation for the three months had a 18% increase to reach $15.78 million (2024: $13.42 million). As such, Net profit for the three months amounted to $21.98 million, a 17% increase from the $18.75 million reported in 2024.
Net profit attributable to shareholders amounted to $16.43 million, up 6% relative to $15.43 million reported in 2024.
ASBH highlighted, “These results were primarily impacted by the inclusion of the financials of the subsidiaries which were acquired in 2024; Caribbean Producers (Jamaica) Limited (CPJ) and Stansfeld Scott Barbados Limited (SSBL). The integration of CPJ and SSBL have gone well, and now we are at the stage of identifying and executing synergies across the Group.”
Consequently, Earnings Per Share for the three months amounted to $0.01 (2024: EPS: $0.01). The twelve-month trailing EPS was $0.04 (J$0.86), and the number of shares used in these calculations was 1,499,251,191.
Notably, ASBH’s stock price closed the trading period on May 15, 2025, at a price of J$30.05 with a corresponding P/E ratio of 35.05x.
Balance Sheet Highlights
The company’s assets totalled $3.17 billion (2024: $2.10 billion). The growth in total assets was primarily due to a $304.81 million increase in inventories, a $264.38 million increase in receivables, a $206.05 million uptick in intangible assets and a $108.91 million increase in PPE.
Shareholder’s equity was $828.22 million (2024: $677.06 million), representing a book value per share of $0.55 (2024: $0.45).
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