November 15, 2024
K.L.E. GROUP LIMITED (KLE)
Unaudited financials for the nine months ended September 30, 2024:
K.L.E. GROUP LIMITED (KLE) for the nine months ended September 30, 2024 reported a 100% decrease in Other operating Income totaling $2,000 compared to $55.31 million in the corresponding period last year. Other operating Income for the third quarter had a 100% decrease to close at $1,000 compared to $1.30 million for the comparable quarter of 2024.
Administrative and Other Expenses amounted to $15.90 million (2023: $54.96 million), this represents a decrease of 71% year over year. Consequently, loss from operations decreased by 4642% to $15.90 million compared to operating profit of $349,000 for the nine months ended September 30, 2023. The company booked Loss from operation of $5.08 million for the third quarter versus $6.67 million reported for the similar quarter of 2024.
Finance costs decreased by 15% to close at $7.30 million (2023: $8.56 million). As a result, Loss before taxation for the nine months ended September 30, 2024 amounted to $20.23 million, relative to $13.87 million reported in 2024.
No taxation was reported for the nine months ended September 30, 2024. Net Loss for the nine months ended totaled $20.23 million. (2023: $9.64 million).
TOTAL COMPREHENSIVE LOSS for the nine months amounted to $19.59 million, from the loss of $8.90 million reported in 2024. For the third quarter, TOTAL COMPREHENSIVE LOSS was $7.16 million (2023:loss of $10.68 million).
Consequently, Loss Per Share for the nine months amounted to $0.20 (2023: LPS: $0.09), while Loss Per Share for the quarter totaled $0.07 (2024: LPS: $0.11). The twelve month trailing LPS was $0.35 and the number of shares used in these calculations was 100,000,000.
Balance Sheet Highlights
The company’s assets totaled $119.27 million (2023: $122.26 million). The movement is total assets was mainly influenced by a 95% decline in ‘Cash and cash equivalents’ amounting to $816,000 (2023: $16.58 million).
Shareholder’s deficit was $9.02 million (2023: shareholders equity of $24.70 million). As such, shareholders deficit per share amounted to $0.09 versus shareholders equity per share of $0.25 in 2023.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
