November 13, 2026
GWEST Corporation Limited (GWEST)
Unaudited financials for the six months ended September 30, 2026:
GWEST Corporation Limited (GWEST) for the six months ended September 30, 2026, reported revenues of $166.69 million, representing a 17% increase compared to $142.16 million in the corresponding period last year. For the second quarter, revenue rose by 31% to $87.94 million (2025: $67.23 million). Management attributes the increase to higher patient fees on greater utilisation of the ambulatory surgery centre.
Year to date, Cost of Sales for the six months amounted to $106.59 million (2025: $89.13 million), reflecting a 20% increase year-over-year. Consequently, gross profit for the period was $60.09 million, a 13% increase from $53.03 million for the six months ended September 30, 2025. Gross profit margin eased to 36.05% from 37.30%, as direct costs grew faster than revenue.
Other gains or losses amounted to a gain of $2.17 million (2025: $691,000), while administrative expenses fell 3% from $46.35 million in 2025 to $44.82 million for the six months. As a result, operating profit for the period amounted to $17.45 million, a 137% increase relative to $7.37 million reported in 2025, lifting the operating margin to 10.47% from 5.18%. For the second quarter, operating profit was $10.23 million, compared to an operating loss of $431,000 in 2025.
Finance costs totalled $16.30 million, an 18% increase from $13.83 million in the corresponding period last year. Interest income for the six months was $996,000 (2025: $18,000).
As a result, profit before taxation for the six months amounted to $2.15 million, compared to a loss of $6.44 million in 2025.
No tax charge was incurred (2025: nil), leaving net profit unchanged at $2.15 million, a swing from the net loss of $6.44 million reported in 2025. For the second quarter, net profit amounted to $1.23 million (2025: net loss of $7.03 million).
Consequently, Earnings Per Share for the six months amounted to $0.004 (2025: LPS: $0.013). The twelve-month trailing LPS was $0.02, and the number of shares used in these calculations was 484,848,485. Notably, GWEST’s stock price closed the trading period on November 13, 2026, at a price of $0.69.
Balance Sheet Highlights
The company’s assets totalled $1.56 billion (2025: $1.59 billion). The movement in total assets was mainly attributable to a 20% decrease in right-of-use assets to $214.88 million (2025: $269.17 million) and a 5% decrease in property and equipment to $396.78 million (2025: $419.16 million), partly offset by a 4% increase in investment property to $694.40 million (2025: $668.50 million) and a 25% increase in receivables to $118.38 million (2025: $94.63 million).
Shareholders’ equity was $650.01 million (2025: $661.42 million), representing a book value per share of $1.34 (2025: $1.36).
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