May 14, 2025
Cargo Handlers Limited (CHL)
Unaudited financials for the six months ended March 31, 2025:
Cargo Handlers Limited (CHL), for the six months ended March 31, 2025, reported a 12% decrease in revenue, totaling $240.25 million compared to $272.78 million in the corresponding period last year. Revenue for the second quarter saw a 3% decrease, closing at $129.30 million compared to $133.38 million for the comparable quarter of 2024.
Cost of sales amounted to $3.33 million (2024: $3.85 million), representing a 13% year-over-year decrease. Consequently, gross profit decreased by 12% to $236.92 million compared to $268.93 million for the six months ended March 31, 2024. The company booked a gross profit of $127.15 million for the second quarter versus $130.80 million reported for the similar quarter of 2024.
Administrative expenses increased by 36% to close at $26.29 million (2024: $19.33 million), while other operating expenses decreased by 15%, from $147.80 million in 2024 to $126.28 million in the period under review. As a result, total expenses for the six months ended March 31, 2025, amounted to $152.57 million, a 9% decrease relative to $167.13 million reported in 2024.
Operating profit for the six months ended March 31, 2025, amounted to $91.26 million, an 11% decrease relative to $102.19 million reported in 2024. Operating profit for the second quarter amounted to $47.05 million (2024: $42.46 million). Finance costs totaled $1.36 million, a 33% decrease from the corresponding period last year (2024: $2.02 million).
Profit before taxation for the six months ended March 31, 2025, amounted to $164.99 million, a 23% increase relative to $134.51 million reported in 2024. Profit before taxation for the second quarter amounted to $87.16 million (2024: $54.19 million).
Taxation for the six months ended March 31, 2025, saw a 12% increase to reach $33.68 million (2024: $30.03 million). Net profit for the six months amounted to $131.31 million, a 26% increase from the $104.48 million reported in 2024. For the second quarter, net profit was $65.18 million (2024: $40.12 million).
Consequently, earnings per share for the six months amounted to $0.32 (2024: EPS: $0.25), while earnings per share for the quarter totaled $0.16 (2024: EPS: $0.10). The twelve-month trailing EPS was $0.72, and the number of shares used in these calculations was 416,250,000.
Notably, CHL’s stock price closed the trading period on May 14, 2025, at $10.95, with a corresponding P/E ratio of 15.17x.
Balance Sheet Highlights
The company’s assets totaled $1.39 billion (2024: $1.19 billion). This increase in total assets was attributable to investment in associate, which equated to $449.89 million (2024: $315.33 million).
Shareholders’ equity was $1.25 billion (2024: $1.04 billion), representing a book value per share of $3.01 (2024: $2.50).
Disclaimer
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