September 21, 2026
Express Catering Limited (ECL)
Audited financials for the twelve months ended May 31, 2026:
All figures are stated in US$ unless otherwise indicated.
Express Catering Limited (ECL) for the twelve months ended May 31, 2026 reported a 27% decrease in Revenue totalling US$18.92 million compared to US$25.88 million in the corresponding period last year. Revenue for the fourth quarter declined by 24% to US$5.34 million compared to US$6.99 million for the comparable quarter of 2025.
Cost of Sales amounted to US$4.71 million (2025: US$7.19 million), representing a decrease of 34% year over year. Consequently, Gross Profit decreased by 24% to US$14.21 million compared to US$18.69 million for the twelve months ended May 31, 2025. Gross Profit for the fourth quarter amounted to US$4.08 million, compared to US$5.12 million reported for the corresponding quarter of 2025.
Administrative Expenses decreased by 25% to US$5.98 million from US$8.02 million in 2025, while Depreciation and Amortisation decreased by 2% to US$3.71 million from US$3.76 million. Promotional Expenses increased by 13% to US$51,759 from US$45,663. As a result, Total Operating Expenses for the twelve months ended May 31, 2026 amounted to US$9.74 million, representing an 18% decrease relative to US$11.83 million reported in 2025.
Operating Profit for the twelve months ended May 31, 2026 amounted to US$4.47 million, representing a 35% decrease from US$6.86 million reported in 2025. For the fourth quarter, Operating Profit amounted to US$1.48 million, compared to US$1.76 million in the corresponding quarter of 2025.
Other Income increased significantly to US$1.71 million from US$19,198 in 2025. This included Interest Income from Financial Assets of US$1.08 million and Other Income of US$629,780. Finance Costs increased marginally by 1% to US$2.54 million from US$2.52 million in the prior year. The company also recorded a Foreign Exchange Loss of US$9,471, compared to a Foreign Exchange Gain of US$42,880 in 2025.
Profit Before Taxation for the twelve months ended May 31, 2026 amounted to US$3.63 million, representing an 18% decrease from US$4.40 million reported in 2025. Income Tax Expense increased by 49% to US$947,961 compared to US$637,929 in the prior year.
Consequently, Net Profit, being Total Comprehensive Income for the year, amounted to US$2.68 million, representing a 29% decrease from US$3.76 million reported in 2025. For the fourth quarter, Net Profit amounted to US$1.06 million, compared to US$544,768 in the corresponding quarter of 2025.
Consequently, Basic and Diluted Earnings Per Share for the twelve months amounted to US$0.0016, or approximately J$0.25 compared to US$0.0023, or approximately J$0.37. Earnings Per Share for the fourth quarter amounted to approximately US$0.0006, or J$0.10, compared to approximately US$0.0003, or J$0.05, for the corresponding quarter of 2025. The twelve-month trailing EPS was US$0.0016, or approximately J$0.25, and the number of shares used in these calculations was 1,637,500,000.
Notably, ECL’s stock price closed the trading period on September 18, 2026 at J$1.95, with a corresponding P/E ratio of approximately 7.52x.
Balance Sheet Highlights
The company’s Total Assets amounted to US$62.89 million at May 31, 2026, representing a 7% increase from US$58.94 million in 2025. The increase was primarily driven by amounts Due from Related Companies, which rose to US$24.64 million from US$16.93 million. Cash and Bank Balances also increased slightly to US$517,912 from US$496,571.
Shareholders’ Equity increased to US$12.89 million from US$10.21 million in 2025. Based on 1,637,500,000 shares in issue, book value per share amounted to approximately US$0.0079, or J$1.25 compared to approximately US$0.0062, or J$1.00.
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