March 04, 2024,
CAC 2000 Limited (CAC)
Audited financials for the twelve months ended October 31, 2024:
CAC 2000 Limited (CAC) for the twelve months ended October 31, 2024, reported a 46% increase in Turnover totaling $1.20 billion compared to $823.04 million in the corresponding period last year. Turnover for the fourth quarter had a 143% increase to close at $450.06 million compared to $185.28 million for the comparable quarter of 2023.
Cost of Sales amounted to $777.22 million (2023: $547.20 million), this represents an increase of 42% year over year. Consequently, gross profit increased by 54% to $425.66 million compared to $275.84 million for the twelve months ending October 31, 2023. The company booked gross profit of $170.39 million for the fourth quarter versus $40.64 million reported for the similar quarter of 2023.
Selling & Distribution increased by 9% to close at $18.30 million (2023: $16.72 million), while General Administration increase by 4% from $319.55 million in 2023 to $333.83 million in the period under review. As a result, total expenses for the twelve months ended October 31, 2024, amounted to $352.13 million, a 5% increase relative to $336.28 million reported in 2023.
Operating Profit for the twelve months ended October 31, 2024, amounted to $76.99 million, a 226% increase relative to loss of $61.02 million reported in 2023. Operating Profit for the fourth quarter amounted to $77.23 million (2023: loss of $41.07 million). Net Finance Cost totaled $51.75 million a 1% increase from the corresponding period last year. (2023: $51.49 million).
Profit Before Taxation for the twelve months ended October 31, 2024, amounted to $25.24 million, a 122% increase relative to a loss of $112.50 million reported in 2023. Profit Before Taxation for the fourth quarter amounted to $63.69 million (2023: loss before taxation of $37.04 million).
Taxation for the twelve months ending October 31, 2024 amounted to $2.98 million (2023: tax credit of $14.27 million). Net Income for the twelve months amounted to $22.26 million, a 123% increase from the net loss of $98.23 million reported in 2023. For the fourth quarter, Net Income was $63.99 million (2023: loss of $27.51 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.17 (2023: LPS: $0.76), while Earnings Per Share for the quarter totaled $0.50 (2023: LPS: $0.21). The number of shares used in these calculations was 129,032,258.
Notably, CAC’s stock price closed the trading period on March 03, 2025, at a price of $1.98 with a corresponding P/E ratio of 11.48x.
Balance Sheet Highlights
The company’s assets totalled $1.36 billion (2023: $1.32 billion). The overall asset growth is driven by a rise in “Trade and Other Receivables,” which closed at $702.81 million (up from $492.09 million in 2023), and an increase in “Short term Investments,” ending at $6.32 million (compared to $4.09 million in 2023).
Shareholders’ equity was $364.83 million (2023: $342.57 million), representing a book value per share of $2.83 (2023: $2.65).
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 affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
