August 15, 2025
KINGSTON PROPERTIES LIMITED(KPREIT)
Unaudited financials for the six months ended June 30, 2025:
KINGSTON PROPERTIES LIMITED (KPREIT) for the six months ended June 30, 2025 reported a 30% increase in Total operating revenues totaling US$3.03 million compared to US$2.33 million in the corresponding period last year. Total operating revenues for the second quarter had a 35% increase to close at US$1.65 million compared to US$1.22 million for the comparable quarter of 2024.
Year to date, Operating Expenses amounted to US$1.07 million (2024: US837,182), this represents an increase of 28% year over year. Consequently, results of operating activities before other income increased by 31% to US$1.96 million compared to US$1.50 million for the six months ended June 30, 2024. The company booked results of operating activities before other income of US$1.16 million for the second quarter versus US$772,436 reported for the similar quarter of 2024.
Fair value gain on investment properties decreased by 37% to close at US $371,908 (2024: US $592,737), while gain on disposal of investment properties amounted to US$96,639 (2024: nil). Management fees for the period under review increased 11% to US$ 66,917 compared to US$ 60,420. Miscellaneous income for the period amounted to US$18,646 (2024: expense of US$80,581). As a result, Operating profit for the six months ended June 30, 2025 amounted to $2.51 million, a 22% increase relative to $2.07 million reported in 2024.
Net finance costs totaled $941,010 a 48% increase from the corresponding period last year. (2024: $635,479).
Profit before Income Tax for the six months ended June 30, 2025, amounted to $1.57 million, a 10% increase relative to $1.43 million reported in 2024. Profit before Income Tax for the second quarter amounted to 676,308 (2024: $486,130).
Taxation credit for the six months ended June 30, 2025 amounted to reach US$66,524 (2024: tax charge of US$9, 483). Profit for the year for the six months amounted to $1.64 million, a 15% increase from the $1.42 million reported in 2024. For the second quarter, Profit was US$637,337 (2024: US$476, 647).
Consequently, Earnings Per Share for the six months amounted to US$0.0019 (2024: EPS: US$0.0016), while Earnings Per Share for the quarter totaled US$0.00072 (2024: EPS: $0.00054). The twelve-month trailing EPS was J$1.00, and the number of shares used in these calculations was 884,000.
Notably, KPREIT’s stock price closed the trading period on August 13, 2025, at a price of $9.60 with a corresponding P/E ratio of 9.59x.
Balance Sheet Highlights
The company’s assets totaled US$88.84 million (2024: US$76.28 million). The movement in total assets was mainly influenced by US$19.31 million increase in ‘Investment properties’ amounting to US$76.94 million (2024: US$57.63 million).
Shareholders’ equity was US$53.45 million (2024: US$48.80 million), representing a book value per share of US$0.06 (2024: US$0.06).
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