The Limners and Bards Limited (LAB)
Audited financials for the twelve months ended October 31, 2024:
The Limners and Bards Limited (LAB) for the twelve months ended October 31, 2024 reported a 15% decrease in Operating revenue totaling $958.13 million compared to $1.12 billion in the corresponding period last year. Operating revenue for the fourth quarter had a 3% decrease to close at $205.33 million compared to $211.25 million for the comparable quarter of 2023.
Cost of operating revenue amounted to $602.83 million (2023: $735.83 million), this represents a decrease of 18% year over year. Consequently, gross profit decreased by 9% to $355.30 million compared to $388.92 million for the twelve months ended October 31, 2023. The company booked gross profit of $70.76 million for the fourth quarter versus $74.14 million reported for the similar quarter of 2023.
Selling and distribution decreased by 26% to close at $2.04 million (2023: $2.75 million), while administrative expenses decreased by 17% from $338.78 million in 2023 to $281.97 million in the period under review. As a result, total operating expenses for the twelve months ended October 31, 2024, amounted to $284.01 million, a 17% decrease relative to $341.53 million reported in 2023.
Profit before net finance cost and taxation for the twelve months ended October 31, 2024, amounted to $73.93 million, a 36% increase relative to $54.17 million reported in 2023. Loss before net finance cost and taxation for the fourth quarter amounted to $2.14 million (2023: $2.25 million). Net finance costs totaled $15.23 million, a 524% increase from the corresponding period last year. (2023: $2.44 million).
Profit before taxation for the twelve months ended October 31, 2024, amounted to $89.21 million, a 58% increase relative to $56.55 million reported in 2023. Profit before taxation for the fourth quarter amounted to $5.77 million (2023: $175, 041).
Taxation for the twelve months ended October 31, 2024 amounted to $6.27 million (2023: Tax credit of $764, 945). Net profit for the twelve months amounted to $82.95 million, a 45% increase from the $57.32 million reported in 2023. For the fourth quarter, Net loss was $642,013 (2023: Net profit of $345, 992).
Consequently, Earnings Per Share for the twelve months amounted to $0.09 (2023: EPS: $0.06). The twelve-month trailing EPS was $0.09, and the number of shares used in these calculations was 945,690,252.
Notably, LAB’s stock price closed the trading period on January 02, 2025, at a price of $1.40 with a corresponding P/E ratio of 15.96x.
Balance Sheet Highlights
The company’s assets totalled $1.03 billion (2023: $917.59 million). The movement in total assets was mainly attributed to the addition of content assets – development cost, amounting to $147.25 million (2023: nil) and 5% increase in ‘Plant, property and equipment’ amounting to $87.48 million (2023: $83.29 million).
Shareholder’s equity was $638.55 million (2023: $597.87 million), representing a book value per share of $0.68 (2023: $0.63).
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