May 15, 2025
MAILPAC Group Limited (MAILPAC)
Unaudited financials for the first quarter ended March 31, 2025:
MAILPAC Group Limited (MAILPAC) for the first quarter ended March 31, 2025, reported a 94% increase in revenue totaling $716.44 million compared to $368.50 million in the corresponding three months last year.
Year to date, the cost of sales amounted to $327.70 million (2024: $170.60 million), this represents an increase of 92% year over year. Consequently, gross profit increased by 96% to $388.74 million compared to $197.91 million for the first quarter ended March 31, 2024.
Administrative and general expenses increased by 109% to close at $233.23 million (2024: $111.41 million), while selling and promotion costs increased by 65% from $19.39 million in 2024 to $31.92 million for the three months. As a result, Total Expenses for the first quarter amounted to $265.15 million, a 103% increase relative to $130.80 million reported in 2024.
Operating profit for the three months amounted to $123.59 million, an 84% increase relative to $67.11 million reported in 2024. Finance and policy costs totaled $46.72 million, a 174% increase from the corresponding period last year. (2024: $17.06 million).
Profit Before Taxation for the first quarter ended March 31, 2025, amounted to $77.36 million, a 54% increase relative to $50.13 million reported in 2024.
The tax charge incurred for the three months amounted to $7.62 million (2024: nil). Net Profit for the three months amounted to $69.74 million, a 39% increase from the $50.13 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.03 (2024: EPS: $0.02). The twelve-month trailing EPS was $0.11, and the number of shares used in these calculations was 2,500,000,000. Notably, MAILPAC’s stock price closed the trading period on May 14, 2025, at a price of $2.34 with a corresponding P/E ratio of 21.80x.
Balance Sheet Highlights
The company’s assets totalled $2.30 billion (2024: $626.27 million). The movement in total assets was primarily attributable to 490% increase in Intangible assets amounting to $1.39 billion (2023: $236.30 million).
Shareholders’ equity was $806.25 million (2024: $537.86 million), representing a book value per share of $0.32 (2024: $0.22).
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