December 16, 2024
R.A. Williams Distributors Limited (RAWILL)
Unaudited financials for the six months ended October 31, 2024:
R.A. Williams Distributors Limited (RAWILL) for the six months ended October 31, 2024, reported a 1% increase in Revenue totaling $754.48 million compared to $748.41 million in the corresponding period last year. Revenue for the second quarter had a 1% increase to close at $367.04 million compared to $363.58 million for the comparable quarter of 2023.
Cost of Sales amounted to $393.66 million (2023: $400.77 million), this represents a decrease of 2% year over year. Consequently, gross profit increased by 4% to $360.82 million compared to $347.64 million for the six months ended October 31, 2023. The company booked gross profit of $170.66 million for the second quarter versus $149.45 million reported for the similar quarter of 2023.
Administrative and General Expenses increased by 46% to close at $190.19 million (2023: $130.43 million), while Selling and Distribution Expenses increased by 7% from $126.39 million in 2023 to $117.36 million in the period under review. As a result, total expenses for the six months ended October 31, 2024, amounted to $307.55 million, a 20% increase relative to $256.83 million reported in 2023.
Operating Profit for the six months ended October 31, 2024, amounted to $53.27 million, a 41% decrease relative to $90.81 million reported in 2023. Operating Profit for the second quarter amounted to $5.05 million (2023: $10.57 million). Other Income totalled $122,875, a 13% increase from the corresponding period last year. (2023: $108,880).
Finance Costs for the six months ended October 31, 2024, amounted to $38.79 million, a 75% increase relative to $22.16 million reported in 2023. Finance Costs for the second quarter amounted to $19.07 million (2023: $11.43 million).
Profit before Taxation for the six months ended October 31, 2024, had a 79% decrease to reach $14.61 million (2023: $68.76 million). Taxation for the six months amounted to $7.02 million, a 51% increase from the $14.20 million reported in 2023. For the second quarter, Taxation was $2.55 million (2023: $2.39 million).
Consequently, Earnings Per Share for the six months amounted to $0.004 (2023: EPS: $0.034), while Loss Per Share for the quarter totaled $0.009 (2023: LPS: $0.002). The twelve-month trailing EPS was $0.02, and the number of shares used in these calculations was 2,000,000,000.
Notably, RAWILL’s stock price closed the trading period on December 13, 2024, at a price of $0.86 with a corresponding P/E ratio of 44.64x.
Balance Sheet Highlights
The company’s assets totalled $1.42 billion (2023: $971.89 million). This increase was attributable to ‘Right of use of Asset’ which amounted to $308.64 million (2023: nil). Property, plant, and equipment also contributed to the increase equating to $122.26 million (2023: $39.61 million).
Shareholder’s equity was $749.21 million (2023: $355.43 million), representing a book value per share of $0.37 (2023: $0.18).
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