The Limners and Bards Limited(LAB)
Unaudited financials for the nine months ended July 31, 2025:
The Limners and Bards Limited (LAB) for the nine months ended July 31, 2025, reported a 3% decrease in Operating revenue totaling $727.35 million compared to $752.80 million in the corresponding period last year. Operating revenue for the third quarter had a 13% decrease to close at $267.14 million compared to $307.20 million for the comparable quarter of 2024. Management noted, “This contraction reflects, project seasonality, and a shift in the revenue mix, with more than half of total revenue generated from media placements, a lower-margin segment relative to Agency and Production. Revenue for the period was derived from Media at $372.7 million, Production at $241.5 million, and Agency at $113.0 million.”
Cost of operating revenue amounted to $450.12 million (2024: $468.26 million), this represents a decrease of 4% year over year. Consequently, gross profit decreased by 3% to $277.23 million compared to $284.54 million for the nine months ended July 31, 2024. The company booked gross profit of $101.77 million for the third quarter versus $104.13 million reported for the similar quarter of 2024.
Selling and distribution costs increased by 215% to close at $3.89 million (2024: $1.23 million), while Administrative expenses increased by 9% from $209.61 million in 2024 to $228.90 million in the period under review. As a result, total operating expenses for the nine months ended July 31, 2025, amounted to $233.64 million, a 12% increase relative to $208.47 million reported in 2024.
Profit before net finance cost and taxation for the nine months ended July 31, 2025, amounted to $43.71 million, a 43% decrease relative to $76.06 million reported in 2024. Profit before net finance cost and taxation for the third quarter amounted to $22.33 million (2024: $29.89 million).
Net finance income totalled $5.10 million, a 31% decrease from the corresponding period last year. (2024: $7.37 million).
Profit before taxation for the nine months ended July 31, 2025, amounted to $48.78 million, a 42% decrease relative to $83.45 million reported in 2024. Profit before taxation for the third quarter amounted to $24.78 million (2024: $34.11 million).
Taxation charge for the nine months ended July 31, 2025, amounted to $6.52 million (2024: Tax credit $141,425). As such, Net profit for the nine months amounted to $42.26 million, a 49% decrease from the $83.59 million reported in 2024. For the third quarter, Net profit was $21.66 million (2024: $34.13 million).
Consequently, Earnings Per Share for the nine months amounted to $0.04 (2024: EPS: $0.09), while Earnings Per Share for the quarter totaled $0.02 (2024: EPS: $0.04). The twelve-month trailing EPS was $0.04 and the number of shares used in these calculations was 945,690,252.
Notably, LAB’s stock price closed the trading period on September 12, 2025, at a price of $0.99 with a corresponding P/E ratio of 22.50x.
Balance Sheet Highlights
The company’s assets totalled $1.10 billion (2024: $1.10 billion). LAB Highlighted, “This was mainly attributable to normal depreciation. Current assets increased to $933.4 million, up $11.2 million from the prior year. Cash and cash equivalents stood at $326.6 million, down $53.4 million year over year due primarily to increased investment in proprietary content assets. Accounts receivable decreased by $83.3 million, while shareholders’ equity decreased marginally by 0.1 percent from $681.4 million in the prior-year period to $680.8 million.”
Shareholder’s equity was $680.81 million (2024: $681.46 million), representing a book value per share of $0.72 (2024: $0.72).
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