May 11, 2026
Kingston Properties Limited (KPREIT)
Unaudited financials for the first quarter ended March 31, 2026:
Kingston Properties Limited (KPREIT) for the first quarter ended March 31, 2026, reported a 32% increase in total operating revenues totaling US$1.82 million compared to US$1.38 million in the corresponding three months last year.
Year to date, Operating Expenses amounted to US$607,581 (2025: US$583,539), this represents an increase of 4% year over year. Management fees for the period under review amounted to US$42,645 (2025: US$33,660). Consequently, results of operating activities before other income increased by 51% to US$1.26 million compared to US$833,429 for the first quarter ended March 31, 2025.
Fair value gain on investment properties decreased by 100% to close at nil (2025: US$371,908), while gain on disposal of investment properties amounted to nil (2025: US$96,639). Miscellaneous income amounted to US$13,485 (2025: Miscellaneous expenses of US$13,437). Consequently, Results of operating activities for the first quarter amounted to US$1.27 million, a 2% decrease relative to US$1.29 million reported in 2025.
Net finance costs totaled US$586,279, a 49% increase from the corresponding period last year (2025: US$392,597).
Profit before Income Tax for the first quarter ended March 31, 2026, amounted to US$684,477, a 24% decrease relative to US$895,942 reported in 2025. The tax charge for the three months amounted to US$25,520 (2025: tax credit of US$105,495). Profit for the period for the three months amounted to US$658,957, a 34% decrease from the US$1.00 million reported in 2025.
Consequently, Earnings Per Share for the three months amounted to US$0.0007 (2025: EPS: US$0.0011). The twelve-month trailing EPS was US$0.005, and the number of shares used in these calculations was 884,000,000. Notably, KPREIT’s stock price closed the trading period on May 8, 2026, at a price of $12.00 with a corresponding P/E ratio of 16.07x.
Balance Sheet Highlights
The company’s assets totaled US$98.42 million (2025: US$88.38 million). The movement in total assets was mainly influenced by a US$8.99 million increase in ‘Investment properties’ amounting to US$85.91 million (2025: US$76.92 million).
Shareholders’ equity was US$55.63 million (2025: US$52.81 million), representing a book value per share of US$0.06 (2025: US$0.06).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however, its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
