May 1, 2025
Cabrokers Limiited(CABROKERS)
Audited financials for the twelve months ended December 31, 2024:
Cabrokers Limiited (CABROKERS) for the twelve months ended December 31, 2024 reported a 3% decrease in Revenue totaling $489.00 million compared to $501.89 million in the corresponding period last year. Revenue for the fourth quarter had a 37% decrease to close at $80.89 million compared to $128.88 million for the comparable quarter of 2023.
Other Operating Income amounted to $49.35 million (2023: $57.99 million), this represents a decrease of 15% year over year. Additionally, Credit Impairment reversal totalled to $76,702 in 2024 (2023: Credit Impairment losses of $17.14 million). Consequently, total operating income decreased by 1% to $538.43 million compared to $542.74 million for the twelve months ended December 31, 2023. The company booked ‘total operating income’ of $80.14 million for the fourth quarter versus $124.10 million reported for the similar quarter of 2023.
Administrative and Other Expenses increased by 49% to close at $416.55 million (2023: $280.29 million), while Selling Expenses increased by 61% from $133.39 million in 2023 to $214.70 million in the period under review. As a result, total operating expenses for the twelve months ended December 31, 2024, amounted to $631.25 million, a 53% increase relative to $413.69 million reported in 2023.
Operating Loss for the twelve months ended December 31, 2024, amounted to $92.83 million relative to Operating profit of $129.05 million reported in 2023. Operating Loss for the fourth quarter amounted to $85.84 million (2023: Operating profit of $66.11 million). Finance Costs totaled $8.12 million, a 63% increase from the corresponding period last year. (2023: $4.98 million).
Pretax Loss for the twelve months ended December 31, 2024, amounted to $100.94 million, an 181% decrease relative to $124.07 million reported in 2023. Pretax Loss for the fourth quarter amounted to $83.19 million (2023: Pretax Profit of $63.44 million).
The tax credit for twelve months ended December 31, 2024, totaled $2.45 million (2023: Tax charge of $608,084) . Net Loss for the twelve months amounted to $98.49 million, a 180% decrease from the Net Profit of $123.46 million reported in 2023. For the fourth quarter, Net Loss was $80.74 million (2023: Net Profit of $67.34 million).
Consequently, Loss Per Share for the twelve months amounted to $0.38 (2023: EPS: $0.47), while Loss Per Share for the quarter totaled $0.31 (2023: EPS: $0.26). The number of shares used in these calculations was 262,500,000.
Notably, CABROKERS’s stock price closed the trading period on April 30, 2025 at a price of $2.30.
Balance Sheet Highlights
The company’s assets totaled $953.90 million (2023: $1.04 billion). The movement is total assets was primarily attributable to a 79% decline in ‘Cash and and cash equivalents’ amounting to $59.98 million (2023: $292.44 million).
Shareholder’s equity was $444.08 million (2023: $579.61 million), representing a book value per share of $1.69 (2023: $2.21).
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