July 1, 2026
MAILPAC Group Limited (MAILPAC)
Audited financial statements for the twelve months ended December 31, 2025:
MAILPAC Group Limited (MAILPAC) for the twelve months ended December 31, 2025 reported a 16% increase in Revenue, totaling J$2.98 billion, compared to J$2.56 billion in the corresponding period last year.
Cost of Sales totaled J$1.34 billion (2024: J$1.31 billion), reflecting a 3% year over year increase. Consequently, Gross Profit rose by 31% to J$1.64 billion, up from J$1.25 billion for the twelve months ended December 31, 2024.
Administrative and general expenses increased by 26%, closing at J$983.17 million (2024: J$781.60 million), while Selling and distribution costs rose 32% to J$127.62 million, up from J$96.91 million in 2024. As a result, Total Expenses for the year amounted to J$1.11 billion, a 26% increase over the J$878.50 million reported in the prior year.
Operating Profit for the twelve months ended December 31, 2025 amounted to J$528.42 million, representing a 41% increase relative to J$373.80 million reported in 2024.
Other income increased by 87% to $2.36 million, 87% up from the $1.26 million reported in 2024. Finance and policy costs totaled J$241.30 million, a 70% increase from J$142.34 million reported in 2024.
Profit Before Taxation for the twelve months ended December 31, 2025 amounted to J$1.19 billion, compared to J$232.72 million in 2024.
The taxation charge for the year amounted to J$51.99 million (2024: J$10.34 million). As a result, Net Profit for the twelve months amounted to J$1.14 billion, compared to J$222.38 million recorded in 2024.
Note: Included in Profit Before Taxation for 2025 is a one-time gain of J$902.03 million arising from the reduction of contingent consideration liability related to the My Cart Quick Limited acquisition. During the year, the original contingent consideration liability of J$1.27 billion was revised to J$364.00 million, comprising a cash settlement of J$243.00 million and the issuance of 50,000,000 ordinary shares valued at J$121.00 million. This adjustment resulted in a J$902.03 million reduction in the liability, which was recognized in the statement of comprehensive income and significantly boosted reported Profit Before Taxation and Net Profit for the year.
Additional Note: Excluding the J$902.03 million reduction of contingent consideration liability, adjusted Profit Before Taxation would have been approximately J$289.48 million (2024: J$232.72 million), while adjusted Net Profit would have been approximately J$237.49 million (2024: J$222.38 million). The company also excluded this gain when calculating Earnings Per Share, resulting in EPS remaining at J$0.09.
Consequently, Earnings Per Share for the twelve months amounted to $0.095 (2024: EPS: $0.089). The twelve-month trailing EPS was $0.09, and the number of shares used in these calculations was 2,500,000,000.
Notably, MAILPAC’s stock price closed the trading period on June 30, 2026 at a price of $2.66 with a corresponding P/E ratio of 28x.
Balance Sheet Highlights
The company’s assets totaled $2.48 billion (2024: $2.28 billion). The movement in total assets was primarily attributable to 43% increase in Cash and cash equivalents amounting to $362.36 million (2024: $253.77 million). Additionally, PP&E amounted to $342.81 million, 42% increase relative to the prior year.
Shareholder’s equity was $1.62 billion (2024: $710.10 million), representing a book value per share of $0.65 (2024: $0.28).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
