March 6, 2025
K.L.E. GROUP LIMITED (KLE)
Audited financials for the twelve months ended December 31, 2024:
K.L.E. GROUP LIMITED (KLE) for the twelve months ended December 31, 2024, reported a 100% decrease in Other Operating Income totaling $3,000 compared to $54.02 million in the corresponding period last year. Other operating Income for the fourth quarter closed at $1,000 compared to Other Operating loss of $1.29 million for the comparable quarter of 2024.
Administrative and Other Expenses amounted to $19.95 million (2024: 56.34 million), this represents a decrease of 65% year over year. Consequently, Loss from operation increased by 763% to $19.95 million compared to $2.31 million for the twelve months ended December 31, 2023. The company booked loss from operation of $4.05 million for the fourth quarter versus $2.66 million reported for the similar quarter of 2024.
Finance costs decreased by 7% to close at $10.29 million (2024: $11.03 million), while Share of post-tax loss of equity accounted associate decreased by 74% from $14.45 million in 2024 to $3.78 million in the period under review. As a result, Loss before taxation for the twelve months ended December 31, 2024 amounted to $34.02 million, a 22% increase relative to $27.79 million reported in 2024.
No tax charge was incurred for twelve months ended December 31, 2024 (2023: $572,000). Loss from continuing operation amounted to $34.02 million (2023: $28.37 million); Adjustment to discontinued operation results totalled $8.30 million (2023: $4.23 million). As a result, Net Loss for the Year totalled $25.72 million, a 7% increase from the corresponding period last year. (2024: Net loss of $24.14 million).
Unrealized gain on investments at fair value through other comprehensive income for the twelve months ended December 31, 2024, amounted to $896,000, a 18% decrease relative to $1.09 million reported in 2024. Unrealized gain on investments at fair value through other comprehensive income for the fourth quarter amounted to $896,000 (2024: $1.09 million).
Total comprehensive loss for the twelve months amounted to $24.82 million, an 8% decrease from the $23.04 million reported in 2024. For the fourth quarter, Total comprehensive loss was $5.23 million (2024: $14.14 million).
Consequently, Loss Per Share for the twelve months amounted to $0.26 (2024: LPS: $0.24), while Loss Per Share for the quarter totalled $0.05 (2024: LPS: $0.14). The number of shares used in these calculations was 100,000,000.
Notably, KLE’s stock price closed the trading period on March 04, 2025, at a price of $1.10.
Balance Sheet Highlights
The company’s assets totalled $125.56 million (2024: $107.04 million). The movement is total assets was mainly influenced by a 226% increase in ‘Cash and cash equivalents’ amounting to $13.06 million (2023: $4.01 million).
Shareholder’s deficit was $14.26 million (2024: shareholders’ equity of $10.57 million), representing a shareholders’ deficit per share of $0.14 (2024: shareholders’ equity per share of $0.11).
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