Stanley Motta Limited (SML)

Unaudited financials for the six months ended June 30, 2024:

Stanley Motta Limited (SML) for the six months ended June 30, 2024, reported a 8% increase in Revenue totaling $281.97 million compared to $261.90 million in the corresponding period last year. Revenue for the second quarter had an 11% increase to close at $150.12 million compared to $134.67 million for the comparable quarter of 2023.

Other operating income decreased by 80% to $4.29 million compared to $21.54 million for the six months ended June 30, 2023. The company booked other operating income of $3.77 million for the second quarter versus $21.31 million reported for the similar quarter of 2023.

Administrative Expenses increased by 8% to close at $102.29 million (2023: $94.48 million).

Operating Profit decreased by 3% from $188.95 million in 2023 to $183.97 million in the period under review.

Finance costs for the six months ended June 30, 2024, amounted to $49.45 million, a 25% increase relative to $39.49 million reported in 2023.

Profit before taxation for the six months ended June 30, 2024, amounted to $134.52 million, a 10% decrease relative to $149.46 million reported in 2023. Profit before taxation for the second quarter amounted to $71.42 million (2023: $82.74 million).

Taxation totalled $3.32 million, a 30% decrease from the corresponding period last year. (2023: $4.72 million).

Net profit for the six months ended June 30, 2024, amounted to $131.20 million, a 9% decrease relative to $144.73 million reported in 2023. Net profit for the second quarter amounted to $71.40 million (2023: $78.68 million).

Total Comprehensive Income for the six months amounted to $141.05 million, a 5% decrease from the $148.79 million reported in 2023. For the second quarter, Total Comprehensive Income was $81.22 million (2023: $82.73 million).

Consequently, Earnings Per Share for the six months amounted to $0.17 (2023: EPS: $0.19), while Earnings Per Share for the quarter totaled $0.09 (2023: EPS: $0.10). The twelve-month trailing EPS was $2.31, and the number of shares used in these calculations was 757,828,490.

Notably, SML’s stock price closed the trading period on August 15, 2024, at a price of $6.15 with a corresponding P/E ratio of 2.66x.

Balance Sheet Highlights

The company’s assets totalled $10.31 billion (2023: $7.69 billion). This increase in total assets was attributable to ‘Investment Properties’ which equated to $10.03 billion for the period under review (2023: $7.48 billion).

Shareholder’s equity was $7.75 billion (2023: $6.23 billion), representing a book value per share of $10.22 (2023: $8.22).

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