August 17, 2026
KINGSTON PROPERTIES LIMITED (KPREIT)
Unaudited financials for the six months ended June 30, 2026:
KINGSTON PROPERTIES LIMITED (KPREIT) for the six months ended June 30, 2026 reported a 23% increase in Total operating revenues totaling US$3.72 million compared to US$3.03 million in the corresponding period last year. Total operating revenues for the second quarter had a 15% increase to close at US$1.90 million compared to US$1.65 million for the comparable quarter of 2025.
Year to date, Operating Expenses amounted to US$1.18 million (2025: US$1.07 million), this represents an increase of 10% year over year. Consequently, results of operating activities before other income increased by 29% to US$2.61 million compared to US$2.03 million for the six months ended June 30, 2025. The company booked results of operating activities before other income of US$1.35 million for the second quarter versus US$1.19 million reported for the similar quarter of 2025.
No fair value gain on investment properties was recorded during the period (2025: US$371,908), and no gain on disposal of investment properties was booked (2025: US$96,639). Management fees for the period under review increased 5% to US$70,255 compared to US$66,917. Miscellaneous income for the period amounted to US$144,386 (2025: US$18,646), supported by one-off insurance proceeds. As a result, Operating profit for the six months ended June 30, 2026 amounted to US$2.75 million, a 10% increase relative to US$2.51 million reported in 2025.
Net finance costs totaled US$1.13 million, a 20% increase from the corresponding period last year (2025: US$941,010), reflecting the absence of prior-year foreign-exchange gains and higher interest expense on expanded borrowings.
Profit before Income Tax for the six months ended June 30, 2026, amounted to US$1.62 million, a 3% increase relative to US$1.57 million reported in 2025. Profit before Income Tax for the second quarter amounted to US$940,344 (2025: US$676,308).
Taxation for the six months ended June 30, 2026 was a charge of US$153,408 (2025: credit of US$66,524). Profit for the period for the six months amounted to US$1.47 million, a 10% decrease from the US$1.64 million reported in 2025. For the second quarter, Profit was US$812,454 (2025: US$637,337).
Consequently, Earnings Per Share for the six months amounted to US$0.0017 (2025: EPS: US$0.0019), while Earnings Per Share for the quarter totaled US$0.00092 (2025: EPS: US$0.00072). The twelve-month trailing EPS was J$0.72, and the number of shares used in these calculations was 884,000,000.
Notably, KPREIT’s stock price closed the trading period on August 17, 2026, at a price of $10.34 with a corresponding P/E ratio of 14.46x.
Balance Sheet Highlights
The company’s assets totaled US$98.17 million (2025: US$88.84 million). The movement in total assets was mainly influenced by an US$8.28 million increase in ‘Investment properties’ amounting to US$86.13 million (2025: US$77.85 million) and a 297% increase in ‘Cash and cash equivalents’ to US$3.36 million (2025: US$847,257), partly offset by a 66% decline in ‘Investment in Real Estate Fund’ to US$1.51 million (2025: US$4.44 million).
Shareholders’ equity was US$56.45 million (2025: US$53.45 million), representing a book value per share of US$0.0639 (2025: US$0.0605).
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