August 14, 2026

MFS Capital Partners Limited (MFS)

Unaudited financials for the twelve months ended June 30, 2026

MFS Capital Partners Limited (MFS) for the twelve months ended June 30, 2026, reported revenue (net of direct expenses) of $147.14 million, a 2% increase compared to $143.78 million in the corresponding period last year. Revenue for the fourth quarter closed at $39.93 million (2025: $51.13 million). Revenues were derived from net gains on FX trading activities of $125.9 million (2025: $123.7 million), remittance service fees of $7.1 million (2025: $7.4 million), and interest income and fees from the private credit portfolio of $14.0 million (2025: $12.5 million).

Other operating income for the period was $74.09 million, a small decrease from $75.57 million in the prior year, and included investment property revaluation gains of $65 million together with gains from the sale of investment securities. Operating and administrative expenses declined by $12.0 million, or 12%, to $88.27 million (2025: $100.36 million), reflecting cost-savings initiatives that benefited several expense lines, including accounting, audit, director and professional fees.

Consequently, Operating Profit for the twelve months amounted to $132.96 million (2025: $147.38 million). Finance costs increased to $10.33 million (2025: $4.85 million), primarily due to interest on borrowings and other credit-related costs. As such, Profit before Taxation for the twelve months was $122.62 million, $19.9 million or 14% lower than the $142.53 million reported in the prior year — a decline management attributed primarily to the adverse effect of Hurricane Melissa on second- and third-quarter performance, and one that narrows materially on a normalised basis given the prior year included a $28.31 million gain on disposal of subsidiaries and a $50.0 million related-party write-off that did not recur.

Taxation for the twelve months amounted to $27.33 million (2025: $29.48 million). As such, Net Profit totalled $95.29 million, compared to $113.06 million in the prior year. Net Profit for the fourth quarter was $76.80 million, a substantial increase over the $15.52 million reported in the comparable quarter of 2025, aided by the $65 million investment property revaluation gain recognised in the quarter.

Consequently, Earnings Per Share for the twelve months amounted to $0.14 (2025: EPS: $0.17), while Earnings Per Share for the second quarter totalled $0.12 (2025: LPS: $0.02). The twelve-month trailing EPS was $0.14, and the weighted average number of ordinary shares used in these calculations was 660,400,000.

Notably, MFS’s stock price closed the trading period on August 13, 2026, at a price of $0.40 with a corresponding P/E ratio of approximately 2.77x.

Balance Sheet Highlights

The Group’s total assets totalled $923.36 million (2025: $802.60 million), a $120 million increase. Key components include investment property of $470.0 million, a long-term due-from-related-party balance of $188.7 million, goodwill of $66.98 million and investment in associates of $61.12 million.

The Group’s shareholders’ equity as at June 30, 2026, was $388.23 million (2025: $293.01 million), representing a book value per share of approximately $0.59 (2025: $0.44).

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