May 16, 2025
Cabrokers Limiited(CABROKERS)
Unaudited financials for the first quarter ended March 31, 2025:
Cabrokers Limiited (CABROKERS) for the first quarter ended March 31, 2025, reported a 5% decrease in revenue totaling $114.20 million compared to $119.88 million in the corresponding three months last year.
Other Operating Income amounted to $15.42 million (2024: $11.26 million), this represents an increase of 37% year over year. Consequently, total operating income decreased by 13% to $129.62 million compared to $148.28 million for the first quarter ended March 31, 2024.
Year to date, Administrative and other expenses decreased by 14% to close at $91.34 million (2024: $105.80 million), while selling expenses decreased by 8% from $37.70 million in 2024 to $34.77 million for the three months. As a result, Total operating expenses for the first quarter amounted to $126.11 million, a 12% decrease relative to $143.50 million reported in 2024.
Operating Profit for the three months amounted to $3.51 million, a 27% decrease relative to $4.79 million reported in 2024. Finance Costs totaled $1.82 million, a 15% increase from the corresponding period last year. (2024: $1.59 million).
Pretax Profit for the first quarter ended March 31, 2025, amounted to $1.69 million, a 47% decrease relative to $3.20 million reported in 2024.
No tax charge was incurred in the period under review (2024: nil). As a result, Net Profit for the three months amounted to $1.69 million, a 47% decrease from the $3.20 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.01 (2024: EPS: $0.01). The twelve-month trailing LPS was $0.38, and the number of shares used in these calculations was 262,500,000. Notably, CABROKERS’s stock price closed the trading period on May 15, 2025, at a price of $2.44.
Balance Sheet Highlights
The company’s assets totaled $1.07 billion (2024: $1.19 billion). The movement is total assets was primarily attributable to a 58% decline in ‘Cash and cash equivalents’ amounting to $197.24 million (2023: $474.21 million), partly offset by a $115.03 million increase in ‘Receivables’ amounting to $485.39 million (2024: $370.35 million).
Shareholders’ equity was $445.78 million (2024: $582.81 million), representing a book value per share of $1.70 (2024: $2.22).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.