August 18, 2025

Stationery and Office Supplies Limited (SOS)
Unaudited financials for the six months ended June 30, 2025:

Stationery and Office Supplies Limited (SOS) for the six months ended June 30, 2025, reported a 3% increase in revenue totaling $985.23 million compared to $957.62 million in the corresponding period last year. Revenue for the second quarter increased by 3% to $447.76 million compared to $432.82 million for the comparable quarter of 2024.

Cost of sales amounted to $461.20 million (2024: $413.73 million), representing an increase of 11% year over year. Consequently, gross profit decreased by 4% to $524.03 million compared to $543.90 million for the six months ended June 30, 2024. The company reported gross profit of $248.59 million for the second quarter versus $253.17 million for the comparable quarter of 2024.

Administrative and general expenses increased by 11% to $323.66 million (2024: $290.99 million), while selling and promotional costs increased by 2% from $80.31 million in 2024 to $82.10 million in the period under review. Depreciation and amortisation for the six months ended June 30, 2025, amounted to $22.39 million, a 13% increase relative to $19.84 million reported in 2024.

Operating profit for the six months ended June 30, 2025, amounted to $97.00 million, a 36% decrease relative to $152.76 million reported in 2024. Operating profit for the second quarter amounted to $17.92 million (2024: $44.57 million). Finance costs totaled $1.57 million, a 29% increase from the corresponding period last year (2024: $1.22 million).

Profit before tax for the six months ended June 30, 2025, amounted to $106.73 million, a 32% decrease relative to $156.66 million reported in 2024. Profit before tax for the second quarter amounted to $23.05 million (2024: $47.41 million).

Gain on foreign exchange for the six months ended June 30, 2025, increased by 300% to $4.01 million (2024: gain of $1.00 million). Profit on disposal of property, plant, and equipment for the six months amounted to $1.20 million. For the second quarter, profit on disposal of property, plant, and equipment was also $1.20 million.

Income tax expense decreased by 32% to $13.33 million (2024: $19.60 million). Income tax expense for the quarter totaled $3.21 million compared to $5.93 million in the prior year’s quarter.

Net profit for the period totaled $93.39 million relative to $137.07 million reported in the prior year. For the quarter, net profit amounted to $19.84 million compared to $41.49 million reported in 2024.

Consequently, earnings per share for the six months amounted to $0.04 (2024: $0.06), while earnings per share for the quarter totaled $0.01 (2024: $0.02). The twelve-month trailing EPS was $0.08, and the number of shares used in these calculations was 2,251,084,500.

Notably, SOS’s stock price closed the trading period on August 15, 2025, at $1.61 with a corresponding P/E ratio of 20.23x.

Balance Sheet Highlights:

The company’s assets totaled $2.04 billion (2024: $1.86 billion). This increase was attributable to cash and cash equivalents, which amounted to $472.47 million (2024: $299.00 million).

Shareholders’ equity was $1.65 billion (2024: $1.47 billion), representing a book value per share of $0.73 (2024: $0.65).

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