June 24, 2025
The Consolidated Bakeries (Jamaica) Limited (PURITY)
Unaudited financials for the first quarter ended March 31, 2025:
The Consolidated Bakeries (Jamaica) Limited (PURITY) for the first quarter ended March 31, 2025, reported a 6% decrease in revenue totalling $493.95 million compared to $525.07 million in the corresponding three months last year.
Cost of Sales amounted to $305.32 million (2024: $332.98 million), this represents a decrease of 8% year over year. Consequently, gross profit decreased by 2% to $188.63 million compared to $192.09 million for the first quarter ended March 31, 2024.
Selling Expenses decreased by 22% to close at $62.53 million (2024: $79.76 million), while Admin Expenses increased by 3% from $76.29 million in 2024 to $78.31 million for the three months. As a result, Total Expenses for the first quarter amounted to $155.52 million, a 7% decrease relative to $166.92 million reported in 2024.
Operating Profit for the three months amounted to $33.12 million, a 32% increase relative to $25.17 million reported in 2024.
Finance Cost totalled $6.25 million a 24% increase from the corresponding period last year. (2024: $5.03 million).
Pre-tax profit for the first quarter ended March 31, 2025, amounted to $26.74 million, a 33% increase relative to $20.15 million reported in 2024.
Tax charge for the three months amounted to $6.69 million (2024: $0). As such, Net Profit for the three months amounted to $20.06 million, a marginal decrease from the $20.15 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.09 (2024: EPS: $0.09). The twelve-month trailing LPS was $0.05, and the number of shares used in these calculations was 222,709,171.
Notably, PURITY’s stock price closed the trading period on June 23, 2025, at a price of $1.22.
Balance Sheet Highlights
The company’s assets totalled $2.12 billion (2024: $1.20 billion). The growth in total assets was primarily driven by a $877.74 million or 103% increase in in ‘PPE’ to close the period at $1.73 billion.
Shareholder’s equity was $1.63 billion (2024: $731.24 million), representing a book value per share of $7.31 (2024: $3.28).
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