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.
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