May 16, 2025
Eppley Caribbean Property Fund Limited SCC (CPFV)
Unaudited financials for the six months ended March 31, 2025:
Eppley Caribbean Property Fund Limited SCC (CPFV) for the six months ended March 31, 2025, reported a 11% decrease in Total Investment Income totaling BDS$5.42 million compared to BDS$6.12 million in the corresponding period last year. Total Investment Income for the second quarter had a 31% decrease to close at BDS$2.74 million compared to BDS$3.94 million for the comparable quarter of 2024.
Net rental income amounted to BDS$3.22 million (2024: $2.64 million), this represents an increase of 22% year over year.
Fair value gains on investment property decreased by 100% to BDS$0 compared to BDS$1.51 million for the six months ended March 31, 2024.
Share of profit of investments increased by 12% to close at BDS$1.82 million (2024: BDS$1.62 million), while Interest Income increased by 8% from BDS$349,485 in 2024 to BDS$378,742 in the period under review.
Interest expenses for the six months ended March 31, 2025, amounted to BDS$1.68 million, a 63% increase relative to BDS$1.03 million reported in 2024, while Office and administrative fees totalled BDS$27,611 a 115% increase from the corresponding period last year. (2024: BDS$12,848). As a result, Operating expenditure for the six months ended March 31, 2025, amounted to BDS$3.04 million, a 49% increase relative to BDS$2.04 million reported in 2024.
Profit before tax for the six months ended March 31, 2025, amounted to BDS$2.38 million, a 42% decrease relative to BDS$4.08 million reported in 2024. Profit before tax for the second quarter amounted to $1.32 million (2024: BDS$2.98 million).
Taxation for the six months ended March 31, 2025, had a 10% decrease to reach BDS$88,001 (2024: BDS$97,986). As such, Net profit for the six months amounted to BDS$2.30 million, a 42% decrease from the BDS$3.98 million reported in 2024. For the second quarter, Net profit was BDS$1.29 million (2024: BDS$2.93 million).
Earnings Per Share for the six months amounted to BDS$0.017 (2024: EPS: BDS$0.029), while Earnings Per Share for the quarter totaled BDS$0.01 (2024: EPS: BDS$0.02). The twelve-month trailing EPS was BDS$0.09 and the number of shares used in these calculations was 135,517,592.
Notably, CPFV’s stock price closed the trading period on May 15, 2025, at a price of J$41.99 with a corresponding P/E ratio of 5.95x.
Balance Sheet Highlights
The company’s assets totalled BDS$181.92 million (2024: BDS$162.05 million). Notably, Investments in associated company grew by BDS$11.83 million and Investment properties increased by BDS$7.46 million during the period.
Shareholder’s equity was BDS$127.36 million (2024: BDS$119.33 million), representing a book value per share of BDS$0.94 (2024: BDS$0.88).
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