August 14, 2026
GWEST Corporation Limited (GWEST)
Unaudited financials for the first quarter ended June 30, 2026:
GWEST Corporation Limited (GWEST) for the first quarter ended June 30, 2026, reported revenues of $78.70 million, representing a 5% increase compared to $74.93 million in the corresponding period last year.
Direct Cost for the quarter amounted to $51.85 million (2025: $50.99 million), reflecting a 2% increase year-over-year. Consequently, gross profit for the period was $26.84 million, a 12% increase from $23.94 million for the first quarter ended June 30, 2025.
Other gains or losses reversed to a loss of $383,000 (2025: gain of $210,000), while administrative expenses rose by 13% from $20.80 million in 2025 to $23.51 million for the quarter. As a result, operating profit for the period amounted to $2.95 million, a 12% decrease from $3.35 million reported in 2025.
Interest income for the quarter was $51,000 (2025: $8,000), while finance costs totalled $2.08 million, a 30% decrease from the corresponding period last year (2025: $2.96 million). As a result, profit before taxation for the quarter amounted to $923,000, compared to $393,000 in 2025.
No tax charge was incurred, hence leaving net profit unchanged at $923,000 (2025: profit of $393,000).
Consequently, Earnings Per Share for the quarter amounted to $0.002 (2025: EPS: $0.001). The twelve-month trailing LPS was $0.04, and the number of shares used in these calculations was 484,848,485. Notably, GWEST’s stock price closed the trading period on August 13, 2026, at a price of $0.68.
Balance Sheet Highlights
The company’s assets totalled $1.56 billion (2025: $1.62 billion). The movement in total assets was mainly attributable to a 19% decline in ‘Right-of-use assets’ amounting to $227.33 million (2025: $281.61 million) and a 6% decline in ‘Property and equipment’ to $397.12 million (2025: $424.51 million), partly offset by a 4% increase in ‘Investment property’ to $694.40 million (2025: $668.50 million).
Shareholders’ equity was $648.78 million (2025: $668.25 million), representing a book value per share of $1.34 (2025: $1.38).
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