March 04, 2025

MFS Capital Partners Limited (MFS)
Unaudited financials for the six months ended December 31, 2024:

MFS Capital Partners Limited (MFS), for the six months ending December 31, 2024, reported a 24,746% increase in revenue totalling $89.60 million compared to $360,600 in the corresponding period last year. Revenue for the second quarter had an 84,277% increase to $53.66 million compared to $63,600 for the comparable quarter of 2023.

The cost of sales for the six months ending December 31, 2024, amounted to $38.24 million. Consequently, Gross Profit increased by 14,142% to $51.36 million compared to $360,600 for the six months ending December 31, 2023. The company booked a gross profit of $30.02 million for the second quarter versus $63,600 reported for the similar quarter of 2023.

Other operating income increased by 1,128% to close at $55.81 million (2023: $4.55 million), while administrative expenses increased by 95% from $22.53 million in 2023 to $43.99 million in the period under review. As a result, operating Profit for the six months ending December 31, 2024, amounted to $63.17 million, a 458% increase relative to a loss of $17.63 million reported in 2023.

For the six months ending December 31, 2024, finance costs amounted to $4.29 million (2023: nil). For the second quarter, finance costs amounted to $3.18 million (2023: nil). Profits before taxation totaled $58.88 million, a 434% increase from last year’s corresponding period. (2023: loss of $17.63 million). Taxation for the six months ended December 31, 2024, amounted to $8.22 million.

Net Profit for the six months ended December 31, 2024, increased 387% to $50.67 million, a significant turnaround from the loss of $17.63 million in 2023. For the second quarter, Shareholders’ profit amounted to $4.16 million (2023: loss of $9.24 million).

Consequently, Earnings Per Share for the six months amounted to $0.13 (2023: LPS: $0.04), while Earnings Per Share for the quarter totalled $0.01 (2023: loss per share of $0.02). The twelve-month trailing EPS was $0.07, and the number of shares used in these calculations was 400,000,000.

Notably, MFS’s stock price closed the trading period on March 03, 2025, for $0.60 with a corresponding P/E ratio of 9.19x.

Balance Sheet Highlights
The company’s assets totalled $846.28 million (2023: $56.68 million), showcasing a remarkable growth. This was driven by a 65% year-over-year rise in Property and equipment, which reached $2.84 million compared to $1.68 million in 2023. In addition, Investment Property increased by $405.00 million, there was a $202.21 million boost in amounts due from related companies, and Investment Securities grew by $23.56 million.

Shareholder’s equity was $234.36 million (2023: loss of $44.45 million), representing a shareholders’ equity per share of $0.59 (2023: shareholders’ deficit per share of $0.11).

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