May 19, 2026
Kintyre Holdings Limited (KNTYR)
Unaudited financials for the first quarter ended March 31, 2026:
Kintyre Holdings Limited (KNTYR) for the first quarter ended March 31, 2026 reported a 1,560% increase in income from operations and investment activities totalling $565.71 million compared to $34.08 million in the corresponding three months last year.
Year to date cost of sales amounted to $11.53 million (2025: $12.70 million), this represents a decrease of 9% year over year. Consequently, gross profit increased substantially to $554.19 million compared to $21.38 million for the first quarter ended March 31, 2025.
Administrative and general expenses increased by 138% to close at $22.23 million (2025: $9.35 million), while depreciation & amortization expenses decreased by 9% from $637,000 in 2025 to $580,000 in the period under review. As a result, Total Operating Expenses for the first quarter amounted to $22.81 million, an increase from $9.99 million reported in 2025. Other operating losses for the period amounted to $2.53 million (2025: loss of $1.21 million).
Operating profit for the three months amounted to $528.84 million, a 5,096% increase relative to $10.18 million reported in 2025. Net finance income totalled $2.50 million versus net finance income of $1.12 million in the corresponding period last year.
Pre-tax profit for the first quarter ended March 31, 2026, amounted to $531.34 million, a 4,605% increase relative to $11.29 million reported in 2025.
No tax charge was incurred for the three months (2025: $2.86 million). As a result, net profit for the three months amounted to $531.34 million (2025: $8.44 million).
Net profit attributable to shareholders for the three months ending March 31, 2026 amounted to $529.09 million (2025: $4.42 million).
Consequently, Earnings Per Share for the three months amounted to $0.27 (2025: EPS: $0.005). The twelve-month trailing EPS was $0.34, and the number of shares used in these calculations was 1,962,110,958. Notably, KNTYR’s stock price closed the trading period on May 18, 2026 at a price of $0.24 with a corresponding P/E ratio of 0.71x.
Balance Sheet Highlights
The company’s assets totalled $1.68 billion (2025: $704.05 million). The movement in total assets was primarily attributable to a $682.00 million increase in ‘Investment Properties’ amounting to $767.00 million (2025: $85.00 million), reflecting fair value revaluation gains booked under Parallel Real Estate Ventures, alongside a $161.25 million increase in ‘Due from Related Parties’ amounting to $197.34 million (2025: $36.09 million) and a 14% increase in ‘Goodwill’ amounting to $448.94 million (2025: $393.99 million).
Shareholders’ equity attributable to parent was $914.09 million (2025: $291.54 million), representing a book value per share of $0.47 (2025: $0.31).
It is important to note that headline earnings are dominated by a non-cash fair value gain. Of the $565.71 million Q1 2026 reported income, $510.00 million (90.15%) represents a non-cash fair value revaluation of investment property under IAS 40 booked through Parallel Real Estate Ventures, which the cash flow statement explicitly reverses via a $(533.00 million) non-cash gain reversal. Stripping out this revaluation, underlying operating revenue from the two recurring businesses : Visual Vibe ($28.85 million) and BOLD purified water ($26.86 million) totalling $55.71 million, a 64% year-over-year increase. Net operating cash flow was negative $1.43 million for the quarter.
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