August 10, 2026
Spur Tree Spices Jamaica Limited (SPURTREE)
Unaudited financials for the six months ended June 30, 2026:
Spur Tree Spices Jamaica Limited (SPURTREE) reported a 17% increase in Revenue amounting to J$797.09 million compared to J$683.05 million in the corresponding period last year, driven by higher production and sales volumes across several key product categories. Second-quarter revenue grew by 23% to J$425.20 million versus J$346.69 million in Q2 2025.
Cost of Sales rose 12% to J$555.42 million (2025: J$494.67 million), reflecting higher input and fuel costs. Consequently, Gross Profit climbed 28% to J$241.67 million compared to J$188.39 million for the prior period. For Q2, gross profit was J$141.45 million versus J$108.94 million in 2025, aided by improved operational efficiency.
Other Operating Income reversed to a net loss of J$1.25 million (2025: income of J$7.47 million). Administrative and Other Expenses rose 15% to J$173.77 million (2025: J$150.62 million), reflecting higher staff and operating costs.
As a result, Operating Profit grew 47% to J$66.61 million (2025: J$45.24 million), supported by strong revenue gains.
Finance Costs decreased 14% to J$20.89 million (2025: J$24.42 million). Consequently, Profit Before Tax rose 120% to J$45.72 million (2025: J$20.82 million), while taxation remained at J$0 for both periods. Net Profit for the six months ended June 30, 2026, being total comprehensive income, increased by 120% to J$45.72 million compared to J$20.82 million last year.
Total comprehensive income attributable to owners of the company for the six months amounted to J$35.81 million, a 6% increase from the J$33.70 million reported in 2025. For the second quarter, Total comprehensive income attributable to owners of the company was J$21.48 million (2025: J$15.49 million).
Consequently, Earnings Per Share for the six months amounted to $0.0214 (2025: EPS: $0.0201), while Earnings Per Share for the quarter totaled $0.0128 (2025: EPS: $0.0092). The twelve-month trailing EPS was $0.0622 and the number of shares used in these calculations was 1,676,959,244.
Notably, SPURTREE’s stock price closed the trading period on August 7, 2026, at a price of $1.10 with a corresponding P/E ratio of 17.69x.
Balance Sheet Highlights
The company’s assets totaled J$1.79 billion (2025: J$1.68 billion). The movement in total assets was primarily attributable to a 28% increase in Inventories amounting to J$360.27 million (2025: J$281.24 million), an 11% increase in Receivables to J$304.87 million (2025: J$274.97 million) and a 34% increase in Biological Assets to J$89.54 million (2025: J$66.61 million); these were partly offset by a 32% decline in Cash and cash equivalents to J$49.88 million (2025: J$72.86 million).
Shareholder’s equity was J$1.03 billion (2025: J$902.88 million), representing a book value per share of $0.61 (2025: $0.54).
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