February 16, 2026
GWEST Corporation Limited(GWEST)
Unaudited financials for the nine months ended December 31, 2025:
GWEST Corporation Limited (GWEST), for the nine months ended December 31, 2025, reported revenues of $202.32 million, a marginal decline when compared to $202.56 million recorded in the corresponding period of 2024. For the third quarter, revenue amounted to $60.16 million, representing a 20% decrease relative to the $75.66 million earned in the similar quarter of the prior year.
Cost of Sales for the nine months totalled $131.58 million (2024: $132.26 million), representing a 1% decrease year-over-year. Consequently, gross profit increased slightly by 0.6% to $70.74 million, compared to $70.30 million for the nine months ended December 31, 2024. For the third quarter, gross profit was $17.72 million, versus the $29.36 million reported in the comparable quarter of 2024.
Other gains increased significantly by 206%, closing at $646,000 (2024: $211,000). Administrative expenses increased by 6%, moving from $63.57 million in 2024 to $67.53 million for the period under review. As a result, operating profit for the nine months amounted to $3.86 million, representing a 44% decline compared to $6.95 million reported in the corresponding period last year. For the third quarter, the company recorded an operating loss of $3.50 million, compared to an operating profit of $7.76 million in Q3 2024.
Finance costs totalled $19.76 million, representing a 29% decrease from $27.67 million recorded in the prior period.
Loss before taxation for the nine months improved by 23%, closing at $15.88 million compared to a loss of $20.61 million in 2024. No taxation charge was recorded for the nine‑month period or the third quarter (2024: nil).
As a result, Net loss was unchanged at $15.88 million, similarly reflecting a 23% improvement relative to the prior year. For the third quarter, net loss amounted to $9.42 million, compared to a loss of $1.15 million in the corresponding quarter of 2024.
Consequently, Loss Per Share for the nine months amounted to $0.03 (2024: LPS: $0.04), while Loss Per Share for the quarter totaled $0.02 (2024: LPS: $0.002). The twelve-month trailing LPS was $0.06, and the number of shares used in these calculations was 484,848,485.
Notably, GWEST’s stock price closed the trading period on February 13, 2026, at a price of $0.85.
Balance Sheet Highlights
The company’s assets totaled $1.58 billion (2024: $1.71 billion). The movement in total assets was mainly attributable to an 8% decrease in the value of investment properties amounting to $668.50 million (2024: $723.68 million).
Shareholder’s equity was $651.98 million (2024: $682.44 million), representing a book value per share of $1.34 (2024: $1.41).
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