December 16, 2024
Lumber Depot Limited (LUMBER)
Unaudited financials for the six months ended October 31, 2024:
Lumber Depot Limited (LUMBER) for the six months ended October 31, 2024, reported a 2% decrease in Revenue totaling $762.65 million compared to $782.06 million in the corresponding period last year. Revenue for the second quarter had a 3% increase to close at $376.18 million compared to $364.61 million for the comparable quarter of 2023.
Cost of Sales amounted to $587.04 million (2023: $616.76 million), this represents a decrease of 5% year over year. Consequently, gross profit increased by 6% to $175.61 million compared to $165.30 million for the six months ended October 31, 2023. The company booked gross profit of $83.54 million for the second quarter versus $76.32 million reported for the similar quarter of 2023.
Impairment losses on trade receivables decreased by 65% to close at $985,089 (2023: $2.79 million), while Administrative & Other Expenses increased by 22% from $81.59 million in 2023 to $99.38 million in the period under review. As a result, profit from operations for the six months ended October 31, 2024, amounted to $75.25 million, a 7% decrease relative to $80.94 million reported in 2023.
Other Income for the six months ended October 31, 2024, amounted to $3.65 million, an 81% increase relative to $2.02 million reported in 2023. Other Income for the second quarter amounted to $2.07 million (2023: $1.44 million). Profit before net finance costs and taxation totalled $84.72 million a 2% increase from the corresponding period last year. (2023: $82.95 million).
Net Financial Income for the six months ended October 31, 2024, amounted to $1.53 million, a 60% decrease relative to $3.78 million reported in 2023. Net Financial Income for the second quarter amounted to $807,327 (2023: $1.49 million).
Profit for the period for the six months ended October 31, 2024, had a 1% decrease to reach $86.25 million (2023: $86.73 million). Profit for the period for the second quarter amounted to $41.02 million (2023: $34.17 million).
Consequently, Earnings Per Share for the six months amounted to $0.12 (2023: EPS: $0.12), while Earnings Per Share for the quarter totaled $0.06 (2023: EPS: $0.05). 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 December 13, 2024, at a price of $2.67 with a corresponding P/E ratio of 13.24x.
Balance Sheet Highlights
The company’s assets totalled $906.34 million (2023: $718.80 million). The increase in total assets was attributable to ‘Investment in Associate’ which amounted to $285.82 million. Additionally, Cash and Cash Equivalents also contributed to the increase equating to $231.90 million (2023: $194.32 million).
Shareholder’s equity was $716.04 million (2023: $623.08 million), representing a book value per share of $1.01 (2023: $0.88).
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