September 10, 2026

Kintyre Holdings (JA) Limited (KNTYR)
Unaudited financials for the six months ended June 30, 2026:

Kintyre Holdings (JA) Limited (KNTYR) for the six months ended June 30, 2026 reported a 1,014% increase in income from operations and investment activities totalling $819.73 million compared to $73.59 million in the corresponding period last year.

Year to date cost of sales amounted to $11.01 million (2025: $21.30 million), this represents a decrease of 48% year over year. Consequently, gross profit increased substantially to $808.71 million compared to $52.29 million for the six months ended June 30, 2025.

Administrative and general expenses increased by 121% to close at $49.49 million (2025: $22.40 million), while depreciation & amortization expenses rose to $9.10 million (2025: $1.29 million). Other income amounted to $656,000 (2025: $1.21 million). As a result, operating profit for the six months amounted to $750.78 million, a substantial increase relative to $29.81 million reported in 2025.

Finance costs totalled $5.47 million versus $1.12 million in the corresponding period last year. Pre-tax profit for the six months ended June 30, 2026, amounted to $745.31 million, relative to $28.70 million reported in 2025.

No tax charge was incurred for the six months (2025: $2.86 million), reflecting the Junior Market tax remission and the non-taxable nature of the fair value gains. As a result, net profit for the six months amounted to $745.31 million (2025: $25.84 million). Net profit attributable to shareholders for the six months ending June 30, 2026 amounted to $737.74 million (2025: $15.51 million).

Consequently, Earnings Per Share for the six months amounted to $0.38 (2025: EPS: $0.016). The twelve-month trailing EPS was $0.44, and the number of shares used in these calculations was 1,962,110,958. KNTYR’s shares have been suspended from trading on the Jamaica Stock Exchange since July 1, 2026; accordingly, no closing price or corresponding P/E ratio is available for the period.

Balance Sheet Highlights

The company’s assets totalled $1.79 billion (2025: $775.04 million). The movement in total assets was primarily attributable to a $762.35 million increase in ‘Investment Properties’ amounting to $767.00 million (2025: $4.65 million), reflecting fair value revaluation gains booked under Parallel Real Estate Ventures, alongside the recognition of $164.76 million in ‘Intangible assets’ (2025: nil) arising from acquisitions at Affinity Ventures Group and a $41.60 million increase in ‘Due from Related Parties’ to $78.31 million (2025: $36.71 million).

Shareholders’ equity attributable to parent was $1.16 billion (2025: $292.60 million), representing a book value per share of $0.59 (2025: $0.31).

It is important to note that headline earnings are dominated by non-cash gains. Of the $819.73 million in income for the six months, $763.72 million (93.2%) represents non-cash items — a $533.00 million fair value revaluation of investment property under IAS 40 (booked principally through Parallel Real Estate Ventures) and $230.72 million of gains on acquisitions at Affinity Ventures Group — both of which the cash flow statement explicitly reverses as non-cash. Stripping out these gains, underlying operating revenue from the recurring businesses totalled just $56.01 million (Visual Vibe $51.60 million; Affinity Ventures Group $4.50 million). While net operating cash flow was positive at $30.03 million, this was driven by a $39.33 million working-capital release; before working-capital changes the group recorded an operating cash outflow of $3.83 million.

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