August 18, 2025
Dolphin Cove Limited (DCOVE)
Unaudited financials for the six months ended June 30, 2025
All figures are stated in USD unless otherwise indicated
Dolphin Cove Limited (DCOVE) for the six months ended June 30, 2025, reported a 5% decrease in total revenue totaling $8.36 million compared to $8.77 million in the corresponding period last year. Total revenue for the second quarter increased by 11% to $4.27 million compared to $3.87 million for the comparable quarter of 2024.
Direct costs amounted to $1.02 million (2024: $1.10 million), representing a decrease of 7% year over year. Consequently, gross profit decreased by 4% to $7.34 million compared to $7.67 million for the six months ended June 30, 2024. The company reported gross profit of $3.80 million for the second quarter versus $3.32 million for the comparable quarter of 2024.
Selling expenses decreased by 13% to $1.69 million (2024: $1.94 million), while administrative expenses decreased by 1% from $1.22 million in 2024 to $1.20 million in the period under review. As a result, total expenses for the six months ended June 30, 2025, amounted to $4.93 million, a 4% decrease relative to $5.13 million reported in 2024.
Profit before finance income and costs for the six months ended June 30, 2025, amounted to $2.41 million, a 9% decrease relative to $2.66 million reported in 2024. Profit before finance income and costs for the second quarter amounted to $1.32 million (2024: $899,039). Net finance costs totaled $250,367, a 69% increase from the corresponding period last year (2024: $148,395).
Pre-tax profit for the six months ended June 30, 2025, amounted to $2.16 million, a 14% decrease relative to $2.51 million reported in 2024. Pre-tax profit for the second quarter amounted to $1.19 million (2024: $838,293).
The taxation charge for the six months ended June 30, 2025, decreased by 40% to $234,231 (2024: $387,530). Net profit for the six months amounted to $1.93 million, a 9% decrease from $2.13 million reported in 2024. For the second quarter, net profit was $1.07 million (2024: $746,262).
Consequently, earnings per share for the six months amounted to $0.0049 (2024: $0.0054), while earnings per share for the quarter totaled $0.0027 (2024: $0.0019). The twelve-month trailing EPS was $0.0041, and the number of shares used in these calculations was 392,426,376.
Notably, DCOVE’s stock price closed the trading period on August 15, 2025, at $14.12 with a corresponding P/E ratio of 21.17x.
Balance Sheet Highlights:
The company’s assets totaled $36.63 million, a 1% decrease from $37.12 million reported in 2024. This decrease was attributable to cash and cash equivalents, which amounted to $696,694 (2024: $1.24 million).
Shareholders’ equity was $31.18 million (2024: $31.02 million), representing a book value per share of $0.08 (2024: $0.08).
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