May 13, 2025
Honey Bun Limited (HONBUN)
Unaudited Financials for the Six Months Ended March 31, 2025:
Honey Bun Limited (HONBUN) reported an 8% increase in revenue for the six months ended March 31, 2025, totaling $2.10 billion compared to $1.94 billion in the corresponding period last year. Revenue for the second quarter increased by 6%, closing at $1.06 billion compared to $994.64 million for the comparable quarter of 2024.
Cost of Sales amounted to $1.12 billion (2024: $1.03 billion), representing an 8% year-over-year increase. Consequently, gross profit rose by 8% to $980.42 million, compared to $904.63 million for the six months ended March 31, 2024. The company recorded a gross profit of $480.55 million for the second quarter, versus $469.34 million reported for the similar quarter of 2024.
Administrative Expenses increased by 21% to $458.57 million (2024: $380.36 million), while Selling, Distribution & Promotion Expenses rose by 18%, from $298.79 million in 2024 to $353.67 million in the period under review. As a result, total operating expenses for the six months ended March 31, 2025, amounted to $812.24 million, a 20% increase relative to the $679.14 million reported in 2024.
Profit from operations for the six months ended March 31, 2025, amounted to $166.82 million, a 24% decrease compared to $220.79 million reported in 2024. Profit from operations for the second quarter was $58.70 million (2024: $106.44 million).
Finance Income totaled $4.49 million, a 46% decrease from $8.37 million in the corresponding period last year, while Finance Costs totaled $9.75 million, a 105% increase from $4.75 million in the prior year.
Profit before Taxation for the six months ended March 31, 2025, amounted to $163.17 million, a 27% decrease relative to $224.93 million reported in 2024. Profit before Taxation for the second quarter was $59.90 million (2024: $108.22 million). Taxation for the six months ended March 31, 2025, decreased by 27% to $41.92 million (2024: $57.19 million). Net Profit for the six months amounted to $121.24 million, a 28% decrease from the $167.74 million reported in 2024. For the second quarter, Net Profit was $44.32 million (2024: $81.24 million).
Consequently, Earnings Per Share (EPS) for the six months amounted to $0.26 (2024: $0.36), while EPS for the quarter totaled $0.09 (2024: $0.17). The twelve-month trailing EPS was $0.39, and the number of shares used in these calculations was 471,266,950.
Notably, HONBUN’s stock price closed the trading period on May 13, 2025, at $8.38, with a corresponding P/E ratio of 21.51x.
Balance Sheet Highlights
The company’s assets totaled $2.88 billion (2024: $1.94 billion). This increase in total assets was attributable to the right-of-use asset, which amounted to $768.46 million (2024: $58.44 million).
Shareholders’ equity was $1.55 billion (2024: $1.42 billion), representing a book value per share of $3.29 (2024: $3.02).
Analyst Certification – This research report is for information purposes only and should not be construed as a recommendation. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.