December 02, 2024
Honey Bun Limited (HONBUN)
Audited financials for the twelve months ended September 30, 2024:
Honey Bun Limited (HONBUN) for the twelve months ended September 30, 2024, reported a 13% increase in Revenue totaling $3.84 billion compared to $3.41 billion in the corresponding period last year. Revenue for the fourth quarter had a 12% increase to close at $951.94 million compared to $851.01 million for the comparable quarter of 2023.
Cost of Sales amounted to $2.09 billion (2023: $1.94 billion), this represents an increase of 8% year over year. Consequently, gross profit increased by 19% to $1.75 billion compared to $1.48 billion for the twelve months ended September 30, 2023. The company booked gross profit of $411.81 million for the fourth quarter versus $356.27 million reported for the similar quarter of 2023.
Administrative Expenses increased by 21% to close at $805.51 million (2023: $664.56 million), while Selling, Distribution & Promotion Expenses increased by 22% from $518.28 million in 2023 to $630.87 million in the period under review. As a result, total operating expenses for the twelve months ended September 30, 2024, amounted to $1.44 billion, a 21% increase relative to $1.18 billion reported in 2023.
Profit from operations for the twelve months ended September 30, 2024, amounted to $297.25 million, a 7% increase relative to $276.92 million reported in 2023. Loss from operations for the fourth quarter amounted to $8.03 million (2023: Profit from operations of $13.12 million).
Finance Costs totalled $41.90 million, a 434% increase from the corresponding period last year. (2023: $7.85 million)
Profit before Taxation for the twelve months ended September 30, 2024, amounted to $273.12 million, a 4% decrease relative to $284.45 million reported in 2023. Loss before Taxation for the fourth quarter amounted to $35.62 million (2023: Profit before taxation of $13.82 million). Taxation for the twelve months ended September 30, 2024 had a 18% decrease to reach $43.04 million (2023: $52.36 million) . Net Profit for the twelve months amounted to $230.07 million, a 1% decrease from the $232.09 million reported in 2023. For the fourth quarter, Net Loss was $10.91 million (2023: Net profit of $30.14 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.49 (2023: EPS: $0.49), while Loss Per Share for the quarter totaled $0.02 (2023: EPS: $0.06). The number of shares used in these calculations was 471,266,950.
Notably, HONBUN’s stock price closed the trading period on November 29, 2024, at a price of $8.37 with a corresponding P/E ratio of 17.14x.
Balance Sheet Highlights
The company’s assets totalled $2.62 billion (2023: $1.74 billion). This increase was attributable to ‘Intangible Assets’ which amounted to $784.35 million for the year ended 2024 (2023: $51.67 million).
Shareholder’s equity was $1.47 billion (2023: $1.32 billion), representing a book value per share of $3.12 (2023: $2.79).
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