August 17, 2026
Seprod Limited (SEP)
Unaudited financials for the six months ended June 30, 2026:
Seprod Limited (SEP) for the six months ended June 30, 2026 reported a 3% decrease in Revenue totalling $72.93 billion compared to $75.18 billion in the corresponding period last year. Revenue for the second quarter declined by 3% to $36.51 billion compared to $37.48 billion for the comparable quarter of 2025.
Direct Expenses amounted to $53.48 billion (2025: $54.97 billion), representing a decrease of 3% year over year. Consequently, Gross Profit decreased by 4% to $19.45 billion compared to $20.21 billion for the six months ended June 30, 2025. Gross Profit for the second quarter amounted to $9.75 billion, compared to $10.13 billion for the corresponding quarter of 2025.
Other Operating Income increased by 250% to $1.22 billion from $349.51 million in 2025, while Other Operating Expenses decreased by 2% to $15.57 billion from $15.96 billion in the prior year. As a result, Operating Profit for the six months ended June 30, 2026 amounted to $5.11 billion, representing an 11% increase relative to $4.60 billion reported in 2025. For the second quarter, Operating Profit increased by 6% to $2.35 billion compared to $2.21 billion in the corresponding quarter of 2025.
Finance Costs increased marginally by 1% to $2.42 billion from $2.39 billion in 2025. Share of Results of Joint Venture and Associate declined by 10% to $168.67 million compared to $187.12 million in the prior year. Consequently, Profit Before Taxation for the six months ended June 30, 2026 amounted to $2.85 billion, representing a 19% increase from $2.39 billion in 2025. For the second quarter, Profit Before Taxation increased by 13% to $1.16 billion compared to $1.03 billion in the corresponding quarter of 2025.
Taxation decreased by 49% to $473.48 million compared to $924.31 million in 2025. Consequently, Net Profit from Continuing Operations increased by 62% to $2.38 billion compared to $1.47 billion in the prior year. For the second quarter, Net Profit from Continuing Operations increased by 18% to $706.30 million compared to $600.79 million in the corresponding quarter of 2025.
The Group recorded a Net Loss from Discontinued Operations of $39.27 million for the six months, compared to a loss of $26.82 million in 2025. For the second quarter, the Net Loss from Discontinued Operations amounted to $18.65 million, compared to $9.27 million in the corresponding quarter of 2025. Consequently, total Net Profit increased by 62% to $2.34 billion compared to $1.44 billion in the prior year. For the second quarter, Net Profit increased by 16% to $687.64 million compared to $591.52 million in 2025.
Net Profit Attributable to Stockholders of the Company amounted to $2.36 billion, representing a 153% increase from $931.17 million in 2025. For the second quarter, Net Profit Attributable to Stockholders of the Company increased by 79% to $685.94 million compared to $382.76 million in the corresponding quarter of 2025.
Total Comprehensive Income Attributable to Stockholders of the Company amounted to $2.33 billion, representing a 135% increase from $991.84 million in 2025. For the second quarter, Total Comprehensive Income Attributable to Stockholders of the Company increased by 66% to $675.38 million compared to $405.82 million in the prior year’s quarter.
Consequently, Earnings Per Stock Unit attributable to Stockholders of the Company for the six months amounted to $2.59 compared to $1.27 in 2025, while Earnings Per Stock Unit for the second quarter amounted to $0.75 compared to $0.52 for the corresponding quarter of 2025. Earnings Per Stock Unit from Continuing Operations for the six months amounted to $2.63, while Loss Per Stock Unit from Discontinued Operations amounted to $0.04. The weighted average number of ordinary stock units used in these calculations was 910,887,000.
Notably, SEP’s stock price closed the trading period on August 14, 2026 at $71.10. Using the twelve-month trailing EPS of approximately $6.61 provided, this represents a P/E ratio of approximately 10.76x.
Balance Sheet Highlights
The company’s Total Assets amounted to $137.83 billion at June 30, 2026, representing a marginal 1% increase from $137.08 billion in 2025. The increase was mainly driven by the recognition of Investment Properties of $2.27 billion, compared to nil in the prior year, as well as higher Inventories, which rose to $35.79 billion from $33.82 billion. Deferred Tax Assets also increased to $4.54 billion from $3.64 billion, while Right-of-Use Assets rose to $4.65 billion from $4.48 billion.
Equity Attributable to Stockholders of the Company increased to $39.80 billion from $30.55 billion in 2025, representing a book value per share of approximately $43.70 compared to $33.54 in the prior year, based on the current share base.
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