Knutsford Express Services Limited (KEX)
Unaudited financials for the nine months ended February 28, 2025:
Knutsford Express Services Limited (KEX) for the nine months ended February 28, 2025 reported a 7% increase in Revenue totaling $1.64 billion compared to $1.53 billion in the corresponding period last year. Revenue for the third quarter had a 5% increase to close at $592.71 million compared to $565.60 million for the comparable quarter of 2024.
Year to date, Administrative and General Expenses amounted to $1.39 billion (2024: $1.20 billion), this represents an increase of 16% year over year. Consequently, Operating profit decreased by 24% to $248.95 million compared to $329.48 million for the nine months ended February 28, 2024. The company booked gross profit of $72.39 million for the third quarter versus $131.94 million reported for the similar quarter of 2024.
Year to date, Finance Income decreased by 27% to close at $11.05 million (2024: $15.16 million), while Finance costs increased by 9% from $44.05 million in 2024 to $47.98 million in the period under review. As a result, profit before taxation for the nine months ended February 28, 2025, amounted to $212.02 million, a 29% decrease relative to $300.58 million reported in 2024.
The tax charge incurred for the nine months ended February 28, 2025, amounted to $42.98 million, a 35% increase relative to $31.93 million reported in 2024. The tax charge incurred for the third quarter amounted to $10.14 million (2024: $12.95 million).
As a result, Net Profit for the nine months ended February 28, 2025, had a 37% decrease to reach $169.67 million (2024: $268.65 million) .
Consequently, Earnings Per Share for the nine months amounted to $0.34 (2024: EPS: $0.54), while Earnings Per Share for the quarter totaled $0.10 (2024: EPS: $0.22). The twelve month trailing EPS was $0.42 and the number of shares used in these calculations was 500,000,015.
Notably, KEX’s stock price closed the trading period on April 14, 2025, at a price of $13.95 with a corresponding P/E ratio of 33.24x.
Balance Sheet Highlights
The company’s assets totaled $2.13 billion (2024: $1.93 billion). The movement in total assets was mainly attributable to a 21% increase in “Investment properties’ amounting to $654.60 million (2023: $539.77 million) and a $109.78 million increase in ‘Property, plant and equipment’ amounting to $763.12 million (2023: $653.34 million). Conversely, ‘Cash and bank balances” decreased by 15% amounting to $69.79 million (2023: $81.66 million).
Shareholders’ equity was $1.40 billion (2024: $1.26 billion), representing a book value per share of $2.81 (2024: $2.52).
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