May 15, 2026
The Palace Amusement Company Limited (PAL)
Unaudited financials for the nine months ended March 31, 2026:
The Palace Amusement Company Limited (PAL) for the nine months ended March 31, 2026 reported a 24% decrease in Revenue totaling $715.66 million compared to $944.59 million in the corresponding period last year. Revenue for the third quarter had a 36% decrease to close at $162.30 million compared to $251.74 million for the comparable quarter of 2025.
Year to date, Direct expenses amounted to $717.69 million (2025: $894.13 million), this represents a decrease of 20% year over year. Consequently, gross profit declined to a gross loss of $2.03 million compared to gross profit of $50.46 million for the nine months ended March 31, 2025. The company booked gross loss of $24.03 million for the third quarter versus gross loss of $9.11 million reported for the similar quarter of 2025.
Year to date, Administration expenses decreased by 15% to close at $161.09 million (2025: $189.09 million), while Other operating income increased significantly from $4.48 million in 2025 to $194.96 million in the period under review, driven primarily by a $192.21 million insurance claim recognized in connection with the Palace Multiplex Montego Bay following Hurricane Melissa. As a result, operating profit for the nine months ended March 31, 2026 amounted to $31.84 million, a turnaround relative to Operating loss of $134.15 million reported in 2025.
Finance costs for the nine months ended March 31, 2026, amounted to $38.02 million, a 27% increase relative to $30.02 million reported in 2025. Finance costs for the third quarter amounted to $9.13 million (2025: $13.69 million). As a result, Loss Before taxation totaled $6.18 million, a 96% improvement from the corresponding period last year (2025: Loss before taxation of $164.18 million).
No tax charge was incurred for the period under review (2025: nil).
Total Comprehensive Loss for the nine months ended March 31, 2026 amounted to $6.18 million (2025: Total Comprehensive Loss of $167.39 million). Net Loss attributable to stockholders of the company for the nine months amounted to $6.13 million (2025: Net loss attributable to shareholders of $165.06 million).
Consequently, Loss Per Share for the nine months amounted to $0.01 (2025: LPS: $0.19), while Earnings Per Share for the quarter totaled $0.13 (2025: LPS: $0.12). The twelve-month trailing EPS was $0.01 and the number of shares used in these calculations was 862,216,800.
Notably, PAL’s stock price closed the trading period on May 14, 2026 at a price of $0.69.
Balance Sheet Highlights
The company’s assets totaled $2.01 billion (2025: $2.02 billion). The movement in total assets was primarily attributable to a $70.27 million increase in ‘Receivables’ amounting to $118.48 million (2025: $48.20 million), offset by a $56.540 million decline in ‘PP&E’ amounting to $1.44 billion (2025: $1.50 billion).
Shareholders’ equity was $892.45 million (2025: $865.61 million), representing a book value per share of $1.04 (2025: $1.00).
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