JFP Limited (JFP)

Unaudited financials for the year ended December 31, 2025:

JFP Limited (JFP) for the year ended December 31, 2025, reported a 24% decrease in Revenue totaling $311.25 million compared to $407.49 million in the corresponding period last year. Revenue for the fourth quarter had a 28% decrease to close at $53.43 million compared to $74.53 million for the comparable quarter of 2024.

Cost of Sales amounted to $173.01 million (2024: $261.48 million), this represents a decrease of 34% year over year. Consequently, gross profit decreased by 5% to $138.23 million compared to $146.01 million for the year ended December 31, 2024. The company booked gross profit of $15.61 million for the fourth quarter versus $33.52 million reported for the similar quarter of 2024.

Other Income increased by 25526% to close at $362.99 million (2024: $1.42 million). This reflects gains on disposal of PPE in the second quarter of 2025.

Selling & Distribution expenses decreased by 26% from $15.58 million in 2024 to $11.45 million in 2025, while Administrative Expenses decreased by 2% from $229.65 million in 2024 to $224.10 million in the period under review. As a result, total operating expenses for the year ended December 31, 2025, amounted to $235.55 million, a 4% decrease relative to $245.22 million reported in 2024.

Operating Profit for the year ended December 31, 2025, amounted to $265.68 million, a 372% turnaround relative to operating loss of $97.79 million reported in 2024. Operating Loss for the fourth quarter amounted to $48.87 million (2024: $48.72 million).

Net Financial cost totalled $10.71 million a 44% decrease from the corresponding period last year. (2024: $19.29 million).

No taxes were reported. As such, Net Profit for the year ended December 31, 2025, had a 318% turnaround to reach $254.97 million (2024: Net loss of $117.09 million). This was due to sale of property and equipment during the year.

For the quarter, Net loss was $50.16 million (2024: Net loss of $52.28 million).

Consequently, Earnings Per Share for the year amounted to $0.23 (2024: LPS: $0.10), while Loss Per Share for the quarter totaled $0.04 (2024: LPS: $0.05). The twelve-month trailing EPS was $0.23 and the number of shares used in these calculations was 1,120,000,000.

Notably, JFP’s stock price closed the trading period on February 16, 2026, at a price of $0.53 with a corresponding P/E ratio of 2.33x.

Balance Sheet Highlights

The company’s assets totalled $588.89 million (2024: $520.55 million). The movement in total assets was influenced by the following movements year over year: Property, plant and equipment fell by 42%, decreasing from $82.7M in 2024 to $48M in 2025, mainly due to the sale of land adjacent to the company’s main property. Investments rose sharply from $7.6M to $252.9M as the company reinvested proceeds from that sale. Inventory declined by 13% to $83.4M, reflecting reduced work‑in‑progress from project completions and improved purchasing practices. Receivables decreased by 47% due to successful collection efforts and lower balances from related parties and other accounts.

Shareholder’s equity was $279.23 million (2024: $24.81 million), representing a book value per share of $0.25 (2024: $0.02).

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