March 17, 2025
Lumber Depot Limited (LUMBER)
Unaudited financials for the nine months ended January 31, 2025:
Lumber Depot Limited (LUMBER) reported a 2% decrease in revenue, totaling $1.13 billion for the nine months ended January 31, 2025, compared to $1.16 billion in the corresponding period last year. Revenue for the third quarter decreased by 1%, closing at $372.29 million compared to $376.85 million for the comparable quarter of 2024.
Cost of sales amounted to $880.62 million (2024: $911.41 million), representing a decrease of 3% year over year. Consequently, gross profit increased by 3% to $254.33 million compared to $247.50 million for the nine months ended January 31, 2024. The company booked a gross profit of $78.71 million for the third quarter versus $82.20 million reported for the similar quarter of 2024.
Impairment gains on trade receivables increased by 111%, closing at $77,362 (2024: impairment losses of $719,782), while administrative and other expenses increased by 18%, from $129.46 million in 2024 to $152.99 million in the period under review. As a result, profit from operations for the nine months ended January 31, 2025, amounted to $101.40 million, a 14% decrease relative to $117.30 million reported in 2024.
Other income for the nine months ended January 31, 2025, amounted to $5.48 million, a 37% decrease relative to $8.67 million reported in 2024. Other income for the third quarter amounted to $1.71 million (2024: $2.81 million). Profit before net finance costs and taxation totaled $119.07 million, a 5% decrease from the corresponding period last year (2024: $125.97 million).
Net financial cost for the nine months ended January 31, 2025, amounted to $2.11 million, a 1117% increase relative to $173,254 reported in 2024. Net financial cost for the third quarter amounted to $708,399 (2024: $232,409).
Profit before taxation for the nine months ended January 31, 2025, decreased by 4%, reaching $121.18 million (2024: $126.15 million). Profit before taxation for the third quarter amounted to $34.93 million (2024: $39.41 million).
Profit attributable to members, being total comprehensive income for the period, amounted to $118.85 million for the nine months, a 6% decrease from the $126.15 million reported in 2024. For the third quarter, profit attributable to members, being total comprehensive income for the period, was $32.60 million (2024: $39.41 million).
Consequently, earnings per share for the nine months amounted to $0.17 (2024: EPS: $0.18), while earnings per share for the quarter totaled $0.05 (2024: EPS: $0.06). The twelve-month trailing EPS was $0.20, and the number of shares used in these calculations was 706,237,500.
Notably, LUMBER’s stock price closed the trading period on March 14, 2025, at a price of $2.95 with a corresponding P/E ratio of 15.11x.
Balance Sheet Highlights
The company’s assets totaled $941.47 million (2024: $767.15 million). This increase was attributable to investment in associate, which amounted to $292.19 million for the period.
Shareholders’ equity was $748.64 million (2024: $662.49 million), representing a book value per share of $1.06 (2024: $0.94).
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