Knutsford Express Services Limited (KEX)
Unaudited financials for the first quarter ended August 31, 2024:
Knutsford Express Services Limited (KEX) for the first quarter ended August 31, 2024, reported a 12% increase in revenue totalling $549.71 million compared to $491.79 million in the corresponding three months last year.
Administrative and General Expenses amounted to $450.88 million (2023: $380.34 million), this represents an increase of 19% year over year. Consequently, gross profit decreased by 11% to $98.83 million compared to $111.45 million for the first quarter ended August 31, 2023.
Finance Income decreased by 35% to close at $2.22 million (2023: $3.42 million), while Finance costs increased by 15% from $16.29 million in 2023 to $18.66 million for the three months. As a result, Profit before taxation for the first quarter amounted to $82.39 million, a 16% decrease relative to $98.58 million reported in 2023.
Taxation Charge for the three months amounted to $15.67 million, a 26% increase relative to $12.40 million reported in 2023. Net Profit from continuing operations totalled $66.72 million, a 23% decrease from the corresponding period last year. (2023: $86.18 million).
Consequently, Earnings Per Share for the three months amounted to $0.13 (2023: EPS: $0.17). The twelve-month trailing EPS was $0.58, and the number of shares used in these calculations was 500,000,015. Notably, KEX’s stock price closed the trading period on October 15, 2024, at a price of $12.41 with a corresponding P/E ratio of 21.40x.
Balance Sheet Highlights
The company’s assets totalled $2.10 billion (2023: $1.85 billion). This increase was attributable to a rise in ‘Property, Plant and Equipment’ amounting to $662.86 million for the first quarter ended August 31, 2024 (2023: $573.74 million). Additionally, Investment Property also contributed to the increase amounting to $600.02 million for the first quarter of 2024 (2023: $524.59 million).
Shareholder’s equity was $1.37 billion (2023: $1.14 billion), representing a book value per share of $2.73 (2023: $2.28).
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