November 13, 2025
Sterling Investments Limited (SIL)
Unaudited financials for the nine months ended September 30, 2025:
Sterling Investments Limited (SIL) for the nine months ended September 30, 2025, reported a 3% increase in Interest Income totaling $99.93 million compared to $96.88 million in the corresponding period last year. Interest Income for the third quarter had an 8% decrease to close at $32.48 million compared to $35.13 million for the comparable quarter of 2024.
Foreign exchange gains amounted to $49.32 million (2024: $35.01 million), this represents an increase of 41% year over year, while Net gain on sale of debt investment securities at FVOCI amounted to $10.33 million (2024: $7.82 million). Consequently, total revenue increased by 14% to $159.58 million compared to $139.70 million for the nine months ended September 30, 2024. The company booked total revenue of $32.68 million for the third quarter versus $67.55 million reported for the similar quarter of 2024.
Interest expense decreased by 48% to close at $10.83 million (2024: $20.74 million), while Other Operating expenses decreased by 13% from $45.60 million in 2024 to $39.49 million in the period under review. As a result, total expenses for the nine months ended September 30, 2025, amounted to $59.66 million, a 12% decrease relative to $67.93 million reported in 2024.
Operating Profit for the nine months ended September 30, 2025, amounted to $99.92 million, a 39% increase relative to $71.77 million reported in 2024. Operating Profit for the third quarter amounted to $17.25 million (2024: $46.06 million).
Other Income totalled $72,130 a 105% increase from the corresponding period last year. (2024: $35,209).
No taxes were reported. As such, Net Profit for the nine months amounted to $99.99 million, a 39% increase from the $71.81 million reported in 2024. For the third quarter, Net Profit was $17.27 million (2024: $46.10 million).
Consequently, Earnings Per Share for the nine months amounted to $0.23 (2024: EPS: $0.17), while Earnings Per Share for the quarter totaled $0.04 (2024: EPS: $0.11). The twelve-month trailing EPS was $0.21 and the number of shares used in these calculations was 435,309,161.
Notably, SIL’s stock price closed the trading period on November 13, 2025, at a price of $3.02 with a corresponding P/E ratio of 14.59x.
Balance Sheet Highlights
The company’s assets totalled $1.89 billion (2024: $1.92 billion). The movement in total assets was particularly driven by a $126.47 million decline in Investment Securities to close the period at $1.74 billion. However, Due from related company balances increased by $104.74 million during the period, partly offsetting the movement.
Shareholder’s equity was $1.62 billion (2024: $1.51 billion), representing a book value per share of $3.73 (2024: $3.47).
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