May 14, 2025
Sterling Investments Limited (SIL)
Unaudited financials for the first quarter ended March 31, 2025:
Sterling Investments Limited (SIL) for the first quarter ended March 31, 2025, reported a 8% decrease in interest income totalling $34.59 million compared to $37.43 million in the corresponding three months last year.
Foreign exchange gains amounted to $22.69 million (2024: Foreign exchange losses of $3.55 million), while net gain on sale of debt investment securities totalled $11.47 million, compared to a loss of $3.91 million last year. Consequently, total revenue increased by 129% to $68.74 million compared to $29.97 million for the first quarter ended March 31, 2024.
Interest expense decreased by 45% to close at $3.94 million (2024: $7.18 million), while Other Operating expenses decreased by 27% from $18.14 million in 2024 to $13.21 million for the three months. As a result, Total Expenses for the first quarter amounted to $21.86 million, a 5% increase relative to $20.76 million reported in 2024.
Operating Profit totalled $46.88 million a 409% increase from the corresponding period last year. (2024: $9.21 million).
Other Income for the three months amounted to $54,260, relative to other expense of $1,396 reported in 2024.
Not taxes were reported. As such, Net profit for the three months had a 410% increase to reach $46.93 million (2024: $9.21 million). This was as a result of higher gains on sale of investments, higher unrealized FX gains and a reduction in interest and operating expenses.
Total comprehensive income for the three months amounted to $61.26 million, a 13% decrease from the $70.59 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.11 (2024: EPS: $0.02). The twelve-month trailing EPS was $0.23 and the number of shares used in these calculations was 434,699,728.
Notably, SIL’s stock price closed the trading period on May 14, 2025, at a price of $3.05 with a corresponding P/E ratio of 13.30x.
Balance Sheet Highlights
The company’s assets totalled $1.82 billion (2024: $1.85 billion). SIL noted, “This reflects management’s cautious approach in the environment of uncertainty and intention of keeping some powder dry.”
Shareholder’s equity was $1.55 billion (2024: $1.42 billion), representing a book value per share of $3.56 (2024: $3.26).
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