July 1, 2025
GWEST Corporation Limited (GWEST)
Audited financials for the Twelve months ended March 31, 2025:
GWEST Corporation Limited (GWEST) for the twelve months ended March 31, 2025 reported a 3% decrease in Revenue totaling $267.94 million compared to $277.10 million in the corresponding period last year. Revenue for the fourth quarter had a 32% decrease to close at $65.39 million compared to $96.27 million for the comparable quarter of 2024.
Cost of Sales amounted to $184.73 million (2024: $203.90 million), this represents a decrease of 9% year over year. Consequently, gross profit increased by 14% to $83.22 million compared to $73.20 million for the twelve months ended March 31, 2024. The company booked gross profit of $12.92 million for the fourth quarter versus $17.17 million reported for the similar quarter of 2024.
Notably, other gains decreased by 55% to close at $18.56 million (2024: $41.65 million), while administrative expenses decreased by 5% from $104.73 million in 2024 to $99.55 million in the period under review. As a result, operating profit for the twelve months ended March 31, 2025 amounted to $6.53 million, a 60% decrease relative to $16.37 million reported in 2024.
Finance costs increased by 24% amounting to $48.01 million compared to $38.77 million in 2024. Loss before taxation for the twelve months ended March 31, 2025 had a 85% increase to reach $41.48 million (2024: Loss of $22.40 million) .
The tax credit for the twelve months ended March 31, 2025, amounted to $6.29 million, a 29% decrease relative to $8.88 million reported in 2024. Net Loss for the twelve months amounted to $35.19 million, a 160% decrease from the $13.52 million reported in 2024.
Consequently, Loss Per Share for the twelve months amounted to $0.07 (2024: LPS: $0.03), while Loss Per Share for the quarter totaled $0.03 (2024: EPS: $0.02). The twelve-month trailing LPS was $0.07, and the number of shares used in these calculations was 484,848,485.
Notably, GWEST’s stock price closed the trading period on June 30, 2025, at a price of $0.90.
Balance Sheet Highlights
The company’s assets totaled $1.66 billion (2024: $1.79 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) and 16% decrease in ‘right of use assets’ amounting to $294.06 million (2024: $348.34 million). Additionally, ‘property and equipment’ decreased by $28.93 million amounting to $429.61 million (2024: $458.54 million).
Shareholder’s equity was $667.86 million (2024: $703.05 million), representing a book value per share of $1.38 (2024: $1.45).
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