March 10, 2026

Express Catering Limited (ECL)

Unaudited financials for the six months ended November 30, 2025:

All figures are stated in USD unless otherwise indicated

Express Catering Limited (ECL) for the six months ended November 30, 2025, reported a 15% decrease in Revenue totaling US$9.76 million compared to US$11.46 million in the corresponding period last year. Revenue for the second quarter decreased by 40% to close at US$2.97 million compared to US$4.98 million for the comparable quarter of 2024.

Cost of Sales amounted to US$2.54 million (2024: US$3.38 million), representing a 25% decrease year over year. Consequently, gross profit decreased by 11% to US$7.22 million compared to US$8.08 million for the six months ended November 30, 2024. The company booked gross profit of US$2.16 million for the second quarter versus US$3.54 million reported for the similar quarter of 2024.

Depreciation and amortization decreased by 2% to close at US$1.85 million (2024: US$1.88 million), while Administrative Expenses decreased by 4% from US$3.26 million in 2024 to US$3.13 million in the period under review. As a result, total expenses for the six months ended November 30, 2025, amounted to US$5.01 million, a 6% decrease relative to US$5.33 million reported in 2024.

Operating Profit for the six months ended November 30, 2025, amounted to US$2.16 million, a 20% decrease relative to US$2.71 million reported in 2024. Operating profit for the second quarter amounted to US$27,979 (2024: US$1.07 million).

Finance Cost totaled US$1.33 million, a 4% increase from the corresponding period last year (2024: US$1.27 million).

Foreign Exchange Gain for the six months ended November 30, 2025 amounted to US$2,059, an 84% decrease relative to US$13,004 reported in 2024. Foreign Exchange Loss for the second quarter amounted to US$662 (2024: Foreign Exchange Gain of US$5,311).

Profit for the period, being Total Comprehensive Income, for the six months amounted to US$974,870, representing a 33% decrease from the US$1.45 million reported in 2024. For the second quarter, the company reported a net loss of US$536,680, compared to a net profit of US$443,475 in the corresponding quarter of 2024.

Consequently, Earnings Per Share for the six months amounted to 0.060 US cents, equivalent to approximately J$0.10 per share (2024: 0.089 US cents, or approximately J$0.14). For the second quarter, the company reported a Loss Per Share of (0.033) US cents, equivalent to approximately J$(0.05) (2024: Earnings Per Share of 0.027 US cents, or approximately J$0.04). The twelve-month trailing EPS was US$0.32, and the number of shares used in these calculations was 1,637,500,000.

Notably, ECL’s stock price closed the trading period on March 09, 2026, at a price of $2.30 with a corresponding P/E ratio of 7.11x.

Balance Sheet Highlights

The company’s assets totalled $59.69 million (2024: $54.89 million). This increase was attributable to other intangible assets which amounted to US$8.90 million (2024: US$3.53 million).

Shareholder’s equity was US$11.19 million (2024: US$7.90 million), representing a book value per share of J$1.10 (2024: J$0.76).

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