May 9, 2025
QWI Investments Limited (QWI)
Unaudited financials for the six months ended March 31, 2025:
QWI Investments Limited (QWI) for the six months ended March 31, 2025 reported a 32% decrease in Dividend and Interest Income totaling $12.92 million compared to $18.96 million in the corresponding period last year. Dividend and Interest Income for the second quarter amounted to $4.13 million, a marginal increase from the prior period (2024: $4.12 million).
Unrealized currency gain amounted to $8.91 million (2024: Unrealized currency loss of $12.10 million), this represents an increase of 174% year over year. Additionally, losses from investment activities amounted to $151.45 million compared to gains from investment activities of $152.64 million for the six months ending March 31, 2024. The company booked losses from investment activities of $152.34 million for the second quarter versus $114.99 million reported for the similar quarter of 2024. Consequently, Total loss amounted to $129.62 million (2024: Total income of $159.50 million).
Management noted, “Our Jamaican holdings underperformed the market. Access Financial, Caribbean Cement, Dolphin Cove, General Accident, Jamaica Broilers and TransJamaican Highway all experienced notable share price losses in the quarter and accounted for all of our unrealised losses.”
Year to date, administrative expenses decreased by 6% from $43.88 million in 2024 to $41.11 million for the period under review, while interest expense for the six months ended March 31, 2025 amounted to $16.56 million, a 10% decrease relative to $18.40 million reported in 2024. As a result, Total expenses increased by 7% amounting to $57.67 million (2024: $62.28 million).
Loss before Taxation for the six months ended March 31, 2025, amounted to $187.29 million, a 293% decrease relative to Profit before taxation of $97.22 million reported in 2024. Loss before Taxation for the second quarter amounted to $177.32 million (2024: Profit before Taxation of $74.41 million).
The tax credit for the six months ended March 31, 2025 amounted to $49.65 million. (2024: Tax charge of $26.89 million). Net Loss for the six months amounted to $137.64 million, a 296% decrease from the Net profit of $70.33 million reported in 2024. For the second quarter, Net loss was $130.71 million (2024: net profit of $52.34 million).
Consequently, Loss Per Share for the six months amounted to $0.10 (2024: EPS: $0.05), while Loss Per Share for the quarter totaled $0.10 (2024: EPS: $0.04). The twelve-month trailing LPS was $0.06 and the number of shares used in these calculations was 1,365,000,015.
Notably, QWI’s stock price closed the trading period on May 08, 2025, at a price of $0.72.
Balance Sheet Highlights
The company’s assets totaled $2.05 billion (2024: $2.09 billion). The decline in total assets was primarily attributed to an $84.57 million or 6% fall in “Quoted Invetsments- local” amounting to $1.30 billion (2024: $1.38 billion).
Shareholders’ equity was $1.64 billion (2024: $1.76 billion), representing a book value per share of $1.20 (2024: $1.29).
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