May 14, 2025
The Palace Amusement Company Limited(PAL)
Unaudited financials for the nine months ended March 31, 2025:
The Palace Amusement Company Limited (PAL) for the nine months ended March 31, 2025 reported a 14% decrease in Revenue totaling $944.59 million compared to $1.10 billion in the corresponding period last year. Revenue for the third quarter had a 39% decrease to close at $251.74 million compared to $410.85 million for the comparable quarter of 2024.
Year to date, Direct expenses amounted to $894.13 million (2024: $928.86 million), this represents a decrease of 4% year over year. Consequently, gross profit decreased by 71% to $50.46 million compared to $171.86 million for the nine months ended March 31, 2024. The company booked gross loss of $9.11 million for the third quarter versus gross profit $83.05 million reported for the similar quarter of 2024.
Year to date, Administration expenses increased by 14% to close at $189.09 million (2024: $166.01 million), while Other operating income decreased by 97% from $162.95 million in 2024 to $4.48 million in the period under review. As a result, operating loss for the nine months ended March 31, 2025 amounted to $134.15 million, a 179% decrease relative to Operating profit of $168.80 million reported in 2024.
Finance costs for the nine months ended March 31, 2025, amounted to $30.02 million, a 34% decrease relative to $45.40 million reported in 2024. Finance costs for the third quarter amounted to $13.69 million (2024: $11.78 million). As a result, Loss Before taxation totaled $164.18 million, a 233% decline from the corresponding period last year. (2024: Profit before taxation of $123.40 million).
No tax charge was incurred for the period under review. (2024: nil).
Total Comprehensive Loss for the nine months ended March 31, 2025 decreased to reach $167.39 million (2024: Total Comprehensive Income of $656.64 million) . Net Loss attributable to stockholders of the company for the nine months amounted to $165.06 million (2024: Net profit attributable to shareholders of $123.51 million).
Consequently, Loss Per Share for the nine months amounted to $0.19 (2024: EPS: $0.14), while Loss Per Share for the quarter totaled $0.12 (2024: EPS: $0.02). The twelve-month trailing LPS was $0.26 and the number of shares used in these calculations was 862,216,800.
Notably, PAL’s stock price closed the trading period on May 14, 2025 at a price of $1.06.
Balance Sheet Highlights
The company’s assets totaled $2.02 billion (2024: $2.24 billion). The movement in total assets was primarily attributable to a 67% decline in ‘ Receivables’ amounting to $48.20 million (2024: $147.94 million) and a 31% decline in ‘Cash and cash equivalents’ amounting to $104.63 million (2024: $152.12 million).
Shareholders’ equity was $865.61 million (2024: $1.24 billion), representing a book value per share of $1.00 (2024: $1.44).
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