December 1, 2025
GWEST Corporation Limited (GWEST)
Unaudited financials for the six months ended September 30, 2025:
GWEST Corporation Limited (GWEST) for the six months ended September 30, 2025, reported revenues of $142.16 million, representing a 12% increase compared to $126.90 million in the corresponding period last year. For the second quarter, revenue declined by 5% to $67.23 million (2024: $70.70 million).
Year to date, Cost of Sales for the six months amounted to $89.13 million (2024: $87.76 million), reflecting a 2% increase year-over-year. Consequently, gross profit for the period was $53.03 million, a 35% increase from $39.14 million for the six months ended September 30, 2024.
Other gains or losses increased by 76% to $691,000 (2024: $393,000), while administrative expenses rose by 15% from $40.39 million in 2024 to $46.35 million for the six months. As a result, operating profit for the period amounted to $7.37 million, compared to an operating loss of $856,000 reported in 2024.
Finance costs totaled $13.83 million, a 26% decrease from the corresponding period last year (2024: $18.65 million). Interest income for the six months was $18,000 (2024: nil).
As a result, Loss before taxation for the six months amounted to $6.44 million, compared to a loss of $19.51 million in 2024.
No tax charge was incurred hence leaving net loss unchanged at $6.44 million (2024: loss of $19.51 million). For the second quarter, net loss amounted to $7.03 million (2024: loss of $3.83 million)
Consequently, Loss Per Share for the six months amounted to $0.013 (2024: LPS: $0.04). The twelve-month trailing LPS was $0.05, and the number of shares used in these calculations was 484,848,485. Notably, GWEST’s stock price closed the trading period on November 28, 2025, at a price of $0.68.
Balance Sheet Highlights
The company’s assets totaled $1.59 billion (2024: $1.72 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).
Shareholders’ equity was $661.42 million (2024: $683.54 million), representing a book value per share of $1.36 (2024: $1.41).
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