February 17, 2025
Stanley Motta Limited (SML)
Unaudited financials for the twelve months ended December 31, 2024:
Stanley Motta Limited (SML) for the twelve months ended December 31, 2024 reported a 7% increase in Revenue totaling $566.39 million compared to $527.45 million in the corresponding period last year. Revenue for the fourth quarter had a 4% increase to close at $145.91 million compared to $140.44 million for the comparable quarter of 2023.
Other Operating Income decreased by 70% to $1.61 million compared to $5.39 million for the twelve months ended December 31, 2023. The company booked Other Operating Loss of $3.33 million for the fourth quarter versus $14.06 million reported for the similar quarter of 2023.
Notably, the Fair value gains on investment properties increased by 88% amounting to $2.84 billion for the twelve months ended December 31, 2024 (2023: $1.51 billion). Administrative Expenses increased by 8% to close at $201.53 million (2023: $186.97 million), while Operating Profit increased by 73% from $1.86 billion in 2023 to $3.20 billion in the period under review. Finance costs for the twelve months ended December 31, 2024 amounted to $83.12 million, a 2% decrease relative to $84.54 million reported in 2023.
Profit before taxation for the twelve months ended December 31, 2024, amounted to $3.12 billion, a 76% increase relative to $1.77 billion reported in 2023. Profit before taxation for the fourth quarter amounted to $2.92 billion (2023: $1.58 billion). Taxation totaled $5.53 million, a 22% decrease from the corresponding period last year. (2023: $7.05 million).
Net profit for the twelve months ended December 31, 2024, amounted to $3.11 billion, a 76% increase relative to $1.77 billion reported in 2023. Net profit for the fourth quarter amounted to $2.92 billion (2023: $1.58 billion).
Currency translation difference on net asset of foreign subsidiary for the twelve months ended December 31, 2024 had a 225% increase to reach $30.92 million (2023: $9.50 million) . Total Comprehensive Income for the twelve months amounted to $3.15 billion, a 77% increase from the $1.77 billion reported in 2023. For the fourth quarter, Total Comprehensive Income was $2.92 billion (2023: $1.58 billion).
Consequently, Earnings Per Share for the twelve months amounted to $4.11 (2023: EPS: $2.34), while Earnings Per Share for the quarter totaled $3.85 (2023: EPS: $2.08). The number of shares used in these calculations was 757,828,490.
Notably, SML’s stock price closed the trading period on February 14, 2025 at a price of $7.37 with a corresponding P/E ratio of 1.79x.
Balance Sheet Highlights
The company’s assets totaled $13.54 billion (2023: $9.76 billion). The movement in total assets was primarily due to a 38% increase in ‘Investment Properties’ amounting to $13.15 billion (2023: $9.55 billion).
Shareholder’s equity was $10.75 billion (2023: $7.66 billion), representing a book value per share of $14.19 (2023: $10.11).
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