May 18, 2026
ISP Finance Services Limited (ISP)
Unaudited financials for the first quarter ended March 31, 2026:
ISP Finance Services Limited (ISP) for the first quarter ended March 31, 2026, reported a 16% decrease in total interest income, totalling $83.21 million, compared to $99.21 million in the corresponding three months last year.
Interest Expense amounted to $14.25 million (2025: $12.53 million), which represents an increase of 14% year over year. Consequently, net interest income decreased by 20% to $68.96 million compared to $86.67 million for the first quarter ended March 31, 2025.
Commission Expense on loans decreased by 13% from $3.15 million in 2025 to $2.73 million for the three months. As a result, Gross Profit decreased by 21% to close at $66.23 million (2025: $83.52 million).
Allowance for Credit Loss for the three months amounted to $15.00 million, a 44% decrease relative to $26.71 million reported in 2025. Other operating expenses totalled $28.25 million, a 25% increase from last year’s corresponding period (2025: $22.55 million), while Staff costs increased by 10% to $23.31 million (2025: $21.13 million). Additionally, depreciation increased by 22% amounting to $1.44 million (2025: $1.85 million). Consequently, Total Operating Expenses for the first quarter amounted to $68.00 million, a 6% decrease relative to $72.24 million reported in 2025.
Profit Before Taxation for the first quarter ended March 31, 2026, amounted to $4.63 million, a 73% decrease relative to $17.28 million reported in 2025.
Taxation for the three months decreased 73% to $772,045 (2025: $2.88 million). Net Profit for the three months amounted to $3.86 million, a 73% decrease from the $14.40 million reported in 2025.
Consequently, Earnings Per Share for the three months amounted to $0.04 (2025: EPS: $0.14). The twelve-month trailing EPS was $0.27, and the number of shares used in these calculations was 105,000,000. Notably, ISP’s stock closed the trading period on May 15, 2026, at a price of $12.47, with a corresponding P/E ratio of 46.57x.
Balance Sheet Highlights
The company’s assets totalled $1.22 billion (2025: $1.29 billion). The decline in the company’s asset base reflects an 85% YoY decline in Other Receivables, which closed the quarter at $7.55 million (2025: $51.38 million); a 39% YoY decline in Cash & Cash Equivalents, totalling $73.08 million (2025: $119.91 million); and a 60% YoY decline in Marketable Securities/Investments amounting to $10.00 million (2025: $25.00 million). These were partly offset by a 26% YoY increase in Property, Plant and Equipment, ending at $29.58 million (2025: $23.55 million) and a significant build-up in Right-of-Use assets to $25.27 million (2025: $1.44 million).
Shareholder’s equity was $661.78 million (2025: $654.97 million), representing a book value per share of $6.30 (2025: $6.24).
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