May 14, 2026
Stationery and Office Supplies Limited (SOS)
Unaudited financials for the first quarter ended March 31, 2026:
Stationery and Office Supplies Limited (SOS) for the first quarter ended March 31, 2026, reported a marginal increase in revenue totalling $539.36 million compared to $537.46 million in the corresponding period last year.
Cost of Sales amounted to $237.74 million (2025: $262.03 million), representing a 9% decrease year over year. Consequently, gross profit increased by 10% to $301.62 million compared to $275.44 million for the first quarter ended March 31, 2025.
Other Income declined by 42% to close at $593,984 (2025: $1.03 million), while Administrative and General Expenses increased by 8% from $147.19 million in 2025 to $159.46 million for the three months. Selling and Promotional Costs rose by 10% to $43.14 million compared to $39.08 million in the prior year. Depreciation and Amortisation amounted to $14.41 million, a 30% increase relative to $11.12 million reported in 2025.
Operating Profit for the three months amounted to $85.20 million, an 8% increase relative to $79.08 million reported in 2025. Finance Income amounted to $1.44 million, a 58% decrease from $3.44 million in the prior year, while Finance Costs totalled $901,927, representing a 10% increase relative to $821,261 reported in 2025.
Foreign exchange moved to a loss of $1.35 million compared to a gain of $1.99 million in the prior year. The company also recorded a gain on disposal of property, plant and equipment of $3.90 million compared to nil in the corresponding period last year.
Profit Before Tax for the first quarter ended March 31, 2026, amounted to $88.28 million, a 6% increase relative to $83.68 million reported in 2025.
Income Tax Expense for the quarter amounted to $9.51 million, a 6% decrease relative to $10.13 million reported in 2025. Consequently, Net Profit for the three months amounted to $78.78 million, a 7% increase compared to $73.56 million in the prior year.
Consequently, Earnings Per Share for the first quarter amounted to $0.03 (2025: EPS: $0.03). The twelve-month trailing EPS was $0.06, based on 2,251,084,500 shares outstanding. Notably, SOS’s stock price closed the trading period at $1.48, with a corresponding P/E ratio of 24.19x.
Balance Sheet Highlights
The company’s total assets amounted to $2.07 billion (2025: $2.01 billion). The increase in total assets was mainly driven by Cash and Cash Equivalents, which rose by 17% to $551.92 million from $472.66 million in the prior year. Property, Plant and Equipment also increased to $1.01 billion from $934.16 million. However, the overall increase was partly tempered by lower Inventories, which declined to $274.47 million from $337.50 million, and Trade and Other Receivables, which fell to $152.32 million from $191.50 million.
Shareholders’ equity totalled $1.72 billion (2025: $1.63 billion), representing a book value per share of $0.76 (2025: $0.72).
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 affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
