April 14, 2026
Knutsford Express Services Limited (KEX)
Unaudited financials for the nine months ended February 28, 2026:
Knutsford Express Services Limited (KEX) for the nine months ended February 28, 2026 reported a 5% decrease in Revenue totaling $1.56 billion compared to $1.64 billion in the corresponding period last year. Revenue for the third quarter reflected an 8.2% decline to close at $544.19 million compared to $592.71 million for the comparable quarter of 2025.
Year to date, Administrative and General Expenses amounted to $1.43 billion (2025: $1.39 billion), representing an increase of 2% year over year. Consequently, Operating Profit decreased by 47% to $130.90 million compared to $248.95 million for the nine months ended February 28, 2025. The company booked an Operating Profit of $28.71 million for the third quarter versus $72.39 million reported for the similar quarter of 2025.
Year to date, Finance Income increased by 6% to close at $11.76 million (2025: $11.05 million), while Finance Costs decreased marginally by 1% from $47.34 million in 2025 to $46.77 million in the period under review. As a result, Profit Before Taxation for the nine months ended February 28, 2026, amounted to $95.88 million, a 55% decrease relative to $212.65 million reported in 2025.
The tax charge incurred for the nine months ended February 28, 2026, amounted to $17.28 million, a 60% decrease relative to $42.98 million reported in 2025. The tax charge incurred for the third quarter amounted to $0.29 million (2025: $10.14 million).
As a result, Net Profit for the nine months ended February 28, 2026, had a 54% decrease to reach $78.60 million (2025: $169.67 million).
Consequently, Earnings Per Share for the nine months amounted to $0.16 (2025 EPS: $0.34), while Earnings Per Share for the quarter totaled $0.03 (2025 EPS: $0.10). The twelve-month trailing EPS was $0.29 and the number of shares used in these calculations was 500,000,015.
Notably, KEX’s stock price closed the trading period on April 13, 2026, at a price of $9.41 with a corresponding P/E ratio of 32.11x.
Balance Sheet Highlights
The company’s assets totaled $2.42 billion (2025: $2.13 billion). The movement in total assets was mainly attributable to a 21% increase in Investment Properties amounting to $790.46 million (2025: $654.60 million) and a $124.01 million increase in Property, Plant and Equipment amounting to $887.13 million (2025: $763.12 million). Inventories also rose notably by 48% to $57.15 million (2025: $38.62 million). Additionally, Cash and Bank Balances increased by 39% to $97.08 million (2025: $69.79 million).
Shareholders’ Equity was $1.52 billion (2025: $1.40 billion), representing a Book Value Per Share of $3.03 (2025: $2.81).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
