Fontana Limited (FTNA)

Unaudited financials for the first quarter ended September 30, 2024:

Fontana Limited (FTNA) for the first quarter ended September 30, 2024 reported a 16% increase in revenues totaling $2.07 billion compared to $1.78 billion in the corresponding three months last year.

Cost of Sales amounted to $1.29 billion (2023: $1.18 billion), this represents an increase of 10% year over year. Consequently, gross profit increased by 28% to $774.54 million compared to $603.19 million for the first quarter ended September 30, 2023.

Administrative and Other Expenses increased by 29% to close at $653.33 million (2023: $504.75 million), while Selling and Promotion increased by 6% from $17.59 million in 2023 to $18.60 million for the three months. As a result, Total operating expenses for the first quarter amounted to $671.93 million, a 29% increase relative to $522.34 million reported in 2023.

Operating Profit for the three months amounted to $102.61 million, a 27% increase relative to $80.85 million reported in 2023. Finance and Policy Costs totaled $65.93 million a 25% increase from the corresponding period last year. (2023: $52.61 million).

Profit before Taxation for the first quarter ended September 30, 2024, amounted to $72.37 million, a 18% increase relative to $61.38 million reported in 2023.

Taxation Charge for the three months amounted to $11.90 million (2023: nil) . Net Profit for the three months amounted to $60.47 million, a 1% decrease from the $61.38 million reported in 2023.

Consequently, Earnings Per Share for the three months amounted to $0.05 (2023: EPS: $0.05). The twelve-month trailing EPS was $0.47, and the number of shares used in these calculations was 1,249,374,825. Notably, FTNA’s stock price closed the trading period on November 28, 2024, at a price of $8.15 with a corresponding P/E ratio of 17.29x.

Balance Sheet Highlights

The company’s assets totaled $5.57 billion (2023: $5.24 billion). The movement in total assets was due to a 26% increase in ‘Inventories’ amounting to $1.88 billion (2023: $1.49 billion).

Shareholder’s equity was $2.65 billion (2023: $2.50 billion), representing a book value per share of $2.12 (2023: $2.00).

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