The Limners and Bards Limited (LAB)
Unaudited financials for the six months ended April 30, 2025:
The Limners and Bards Limited (LAB) for the six months ended April 30, 2025, reported a 3% increase in Operating revenue totaling $460.21 million compared to $445.60 million in the corresponding period last year. Operating revenue for the second quarter had a 23% decrease to close at $174.08 million compared to $226.19 million for the comparable quarter of 2024.
Year to date, the cost of operating revenue amounted to $284.75 million (2024: $265.20 million), this represents an increase of 7% year over year. Consequently, gross profit decreased by 3% to $175.46 million compared to $180.40 million for the six months ended April 30, 2024. The company booked gross profit of $74.91 million for the second quarter versus $91.41 million reported for the similar quarter of 2024.
Selling and distribution increased by 195% to close at $2.85 million (2024: $966,245), while administrative expenses increased by 9% from $138.13 million in 2024 to $150.69 million in the period under review. As a result, total operating expenses for the six months ended April 30, 2025, amounted to $153.53 million, a 10% increase relative to $139.10 million reported in 2024.
Profit before net finance cost and taxation for the six months ended April 30, 2025, amounted to $21.38 million, a 54% decrease relative to $46.17 million reported in 2024. Loss before net finance cost and taxation for the second quarter amounted to $1.86 million (2024: Profit of $20.40 million). Net finance income totaled $2.62 million, a 17% decrease from the corresponding period last year. (2024: $3.16 million).
Profits before taxation for the six months ended April 30, 2025, amounted to $24.00 million, a 51% decrease relative to $49.34 million reported in 2024. Loss before taxation for the second quarter amounted to $1.24 million (2024: Profit of $23.16 million).
The tax charge incurred for the six months ended April 30, 2025 amounted to $3.40 million (2024: Tax credit of $115,371). As a result, net profit for the six months amounted to $20.60 million, a 58% decrease from the $49.46 million reported in 2024. For the second quarter, Net loss was $998,768 (2024: Profit of $23.23 million).
Consequently, Earnings Per Share for the six months amounted to $0.02 (2024: EPS: $0.05), while Loss Per Share for the quarter totaled $0.001 (2024: EPS: $0.02). The twelve-month trailing EPS was $0.06, and the number of shares used in these calculations was 945,690,252.
Notably, LAB’s stock price closed the trading period on June 13, 2025 at a price of $1.15 with a corresponding P/E ratio of 20.11x.
Balance Sheet Highlights
The company’s assets totalled $1.04 billion (2024: $1.05 billion). The movement in total assets was mainly attributed to a 41% decrease in ‘Cash and cash equivalents’ amounting to $332.46 million (2024: $558.95 million).
Shareholders’ equity was $659.15 million (2024: $647.33 million), representing a book value per share of $0.70 (2024: $0.68).
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