November11, 2026

Everything Fresh Limited (EFRESH)

Unaudited Financials for the Nine Months Ended September 30, 2026:

Everything Fresh Limited (EFRESH) for the nine months ended September 30, 2026 reported a 2% increase in Revenue, totalling $3.35 billion compared to $3.27 billion in the corresponding period last year. Revenue for the third quarter increased by 8% to $1.19 billion compared to $1.10 billion in the comparable quarter of 2025. The year-to-date increase was supported by the Jamaica Division, where Revenue rose by 7% to $2.80 billion from $2.63 billion, partly offset by a 15% decline in the Bahamas Division to $554.29 million from $648.59 million.

Cost of Sales amounted to $2.64 billion (2025: $2.60 billion), representing a 1% increase year over year. Consequently, Gross Profit increased by 6% to $710.35 million compared to $670.25 million for the nine months ended September 30, 2025. For the third quarter, Gross Profit increased by 15% to $247.16 million from $215.07 million in the corresponding quarter of 2025. Gross Profit Margin improved to approximately 21.2% from 20.5%, reflecting the slower growth in Cost of Sales relative to Revenue.

Other Operating Income decreased by 51% to $1.26 million from $2.59 million in the prior year. Consequently, Total Income increased by 6% to $711.61 million compared to $672.83 million for the corresponding nine-month period.

Administrative and Other Expenses increased by 1% to $497.58 million from $491.49 million in 2025, while Selling and Promotion Expenses increased significantly by 184% to $48.01 million from $16.91 million. As a result, Total Operating Expenses for the nine months ended September 30, 2026 increased by 7% to $545.58 million compared to $508.40 million reported in 2025. For the third quarter, Operating Expenses rose by 10% to $195.34 million from $177.16 million in the corresponding quarter last year.

Operating Profit for the nine months ended September 30, 2026 increased marginally by 1% to $166.02 million compared to $164.43 million in 2025. However, Operating Profit for the third quarter increased by 37% to $51.85 million from $37.93 million in the corresponding quarter of 2025.

Finance Costs remained relatively unchanged at $52.82 million compared to $52.79 million in 2025. For the third quarter, Finance Costs declined by 11% to $16.49 million from $18.58 million in the corresponding quarter last year.

Consequently, Profit Before Taxation for the nine months ended September 30, 2026 increased by 1% to $113.20 million compared to $111.64 million reported in 2025. For the third quarter, Profit Before Taxation increased by 83% to $35.36 million from $19.35 million in the corresponding quarter of 2025.

Taxation for the nine months increased significantly by 310% to $20.24 million compared to $4.94 million in 2025. For the third quarter, the Group recorded a Taxation Charge of $9.42 million compared to nil in the corresponding quarter last year.

Consequently, the Group’s Net Profit for the nine months ended September 30, 2026 decreased by 13% to $92.96 million compared to $106.70 million reported in 2025. However, for the third quarter, Net Profit increased by 34% to $25.95 million from $19.35 million in the corresponding quarter last year.

Net Profit Attributable to Shareholders of Everything Fresh Limited decreased by 5% to $95.36 million compared to $100.41 million in 2025. However, for the third quarter, Net Profit Attributable to Shareholders increased by 37% to $26.59 million from $19.47 million in the corresponding quarter last year. The difference between consolidated Net Profit and Profit Attributable to Shareholders reflected losses attributable to non-controlling interests of $2.40 million, compared to a profit attributable to non-controlling interests of $6.29 million in the prior year.

Total Comprehensive Income for the nine months ended September 30, 2026 declined by 15% to $91.06 million compared to $106.70 million in 2025, reflecting a foreign currency translation adjustment loss of $1.90 million during the period. For the third quarter, Total Comprehensive Income increased by 20% to $23.29 million from $19.35 million in the corresponding quarter of 2025.

Consequently, Earnings Per Share for the nine months ended September 30, 2026 amounted to 12.23 cents (2025: 12.87 cents). For the third quarter, Earnings Per Share amounted to 3.41 cents compared to 2.50 cents in 2025. The twelve-month trailing EPS was approximately $0.0458, and the number of ordinary shares outstanding was 780,000,000.

Notably, EFRESH’s stock price closed the trading period on November 10, 2026 at $1.79, with a corresponding P/E ratio of approximately 39.05x, based on the calculated twelve-month trailing EPS.

Balance Sheet Highlights

The Group’s Total Assets amounted to $1.74 billion at September 30, 2026, representing a 10% decrease from $1.94 billion in the corresponding period last year. The approximately $200.72 million decline was primarily driven by Inventories, which decreased by 23% to $702.43 million from $916.99 million, representing a reduction of approximately $214.56 million.

Shareholders’ Equity Attributable to Owners of Everything Fresh Limited increased by 5% to $625.92 million (2025: $594.93 million), representing a Book Value Per Share of approximately $0.80 (2025: $0.76). The calculation is based on 780,000,000 ordinary shares outstanding in both periods.

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