February 17, 2025
Honey Bun Limited (HONBUN)
Unaudited Financials for the First Quarter Ended December 31, 2024:
Honey Bun Limited (HONBUN) reported an 11% increase in revenue, totalling $1.04 billion for the first quarter ended December 31, 2024, compared to $941.63 million in the corresponding three months last year.
Cost of sales amounted to $540.93 million (2023: $506.35 million), representing a 7% year-over-year increase. Consequently, gross profit increased by 15% to $499.87 million compared to $435.29 million for the first quarter ended December 31, 2023.
Administrative expenses increased by 25%, closing at $217.98 million (2023: $173.81 million), while selling, distribution, and promotion expenses increased by 20% from $144.52 million in 2023 to $173.97 million for the three months. As a result, total operating expenses for the first quarter amounted to $391.96 million, a 23% increase relative to $318.33 million reported in 2023.
Profit from operations for the three months amounted to $108.12 million, a 5% decrease relative to $114.35 million reported in 2023.
Finance income totalled $1.65 million, a 59% decrease from the corresponding period last year (2023: $4.03 million), while finance costs for the first quarter ended December 31, 2024, amounted to $7.69 million, a 359% increase relative to $1.67 million reported in 2023.
Profit before taxation for the three months decreased by 12% to reach $103.27 million (2023: $116.70 million). Taxation for the three months amounted to $26.35 million (2023: $30.20 million). Net profit for the three months amounted to $76.92 million, an 11% decrease from the $86.51 million reported in 2023.
Consequently, earnings per share (EPS) for the three months amounted to $0.16 (2023: EPS: $0.18). The twelve-month trailing EPS was $0.47, and the number of shares used in these calculations was 471,266,950.
Notably, HONBUN’s stock price closed the trading period on February 14, 2025, at $8.10 with a corresponding P/E ratio of 17.31x.
Balance Sheet Highlights:
The company’s assets totalled $2.72 billion (2023: $1.87 billion). This increase in total assets was attributable to property, plant, and equipment, which amounted to $775.85 million (2023: $46.75 million).
Total equity was $1.51 billion (2023: $1.40 billion), representing a book value per share of $3.19 (2023: $2.98).
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