May 16, 2025
Cabrokers Limiited(CABROKERS)
Unaudited financials for the first quarter ended March 31, 2025:
Cabrokers Limiited (CABROKERS) for the first quarter ended March 31, 2025, reported a 5% decrease in revenue totaling $114.20 million compared to $119.88 million in the corresponding three months last year.
Other Operating Income amounted to $15.42 million (2024: $11.26 million), this represents an increase of 37% year over year. Consequently, total operating income decreased by 13% to $129.62 million compared to $148.28 million for the first quarter ended March 31, 2024.
Year to date, Administrative and other expenses decreased by 14% to close at $91.34 million (2024: $105.80 million), while selling expenses decreased by 8% from $37.70 million in 2024 to $34.77 million for the three months. As a result, Total operating expenses for the first quarter amounted to $126.11 million, a 12% decrease relative to $143.50 million reported in 2024.
Operating Profit for the three months amounted to $3.51 million, a 27% decrease relative to $4.79 million reported in 2024. Finance Costs totaled $1.82 million, a 15% increase from the corresponding period last year. (2024: $1.59 million).
Pretax Profit for the first quarter ended March 31, 2025, amounted to $1.69 million, a 47% decrease relative to $3.20 million reported in 2024.
No tax charge was incurred in the period under review (2024: nil). As a result, Net Profit for the three months amounted to $1.69 million, a 47% decrease from the $3.20 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.01 (2024: EPS: $0.01). The twelve-month trailing LPS was $0.38, and the number of shares used in these calculations was 262,500,000. Notably, CABROKERS’s stock price closed the trading period on May 15, 2025, at a price of $2.44.
Balance Sheet Highlights
The company’s assets totaled $1.07 billion (2024: $1.19 billion). The movement is total assets was primarily attributable to a 58% decline in ‘Cash and cash equivalents’ amounting to $197.24 million (2023: $474.21 million), partly offset by a $115.03 million increase in ‘Receivables’ amounting to $485.39 million (2024: $370.35 million).
Shareholders’ equity was $445.78 million (2024: $582.81 million), representing a book value per share of $1.70 (2024: $2.22).
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