March 03, 2026
Kingston Wharves Limited (KW)
Audited financials for the twelve months ended December 31, 2025:
Kingston Wharves Limited (KW) for the twelve months ended December 31, 2025, reported an 18% increase in Revenue totalling $12.67 billion compared to $10.71 billion in the corresponding period last year. Revenue for the fourth quarter had a 14% increase to close at $3.26 billion compared to $2.87 billion for the comparable quarter of 2024.
Cost of sales amounted to $6.98 billion (2024: $6.10 billion), representing a 14% increase year over year. Consequently, gross profit increased by 23% to $5.69 billion compared to $4.62 billion for the twelve months ended December 31, 2024. The company booked gross profit of $1.41 billion for the fourth quarter versus $1.19 billion reported for the similar quarter of 2024.
Other operating income decreased marginally by less than 1% to close at $647.24 million (2024: $648.57 million), while administrative expenses increased by 20% from $1.75 billion in 2024 to $2.11 billion in the period under review. As a result, operating profit for the twelve months ended December 31, 2025, amounted to $4.23 billion, a 20% increase relative to $3.51 billion reported in 2024.
Profit Before Tax for the twelve months ended December 31, 2025, amounted to $4.09 billion, a 28% increase relative to $3.19 billion reported in 2024. Profit Before Tax for the fourth quarter amounted to $1.06 billion (2024: $667.53 million). Finance costs totalled $346.29 million, a 6% increase from the corresponding period last year (2024: $326.78 million).
Taxation expense for the twelve months ended December 31, 2025, amounted to $517.26 million, a 13% increase relative to $457.40 million reported in 2024. Taxation for the fourth quarter amounted to $59.85 million (2024: $116.31 million).
Net Profit for the twelve months ended December 31, 2025, increased by 31% to reach $3.57 billion (2024: $2.73 billion). Net profit attributable to shareholders for the twelve months amounted to $3.46 billion, a 33% increase from the $2.61 billion reported in 2024. For the fourth quarter, net profit attributable to shareholders was $961.83 million (2024: $524.36 million).
Consequently, Earnings per share for the twelve months amounted to $2.47 (2024: $1.86), while Earnings per share for the quarter totaled $0.67 (2024: EPS: $0.37). The twelve-month trailing EPS was $2.47, and the number of shares used in these calculations was 1,430,199,578.
Notably, KW’s stock price closed the trading period on March 02, 2026, at a price of $35.00 with a corresponding P/E ratio of 14.46x.
Balance Sheet Highlights:
The company’s assets totalled $66.23 billion, representing a 9% increase from $60.63 billion booked in 2024. This increase was attributable to property, plant and equipment which amounted to $46.80 billion (2024: $43.70 billion).
Shareholders’ equity was $51.90 billion (2024: $47.43 billion), representing a book value per share of $36.29 (2024: $33.17).
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