May 19, 2026
Sterling Investments Limited (SIL)
Unaudited financials for the three months ended March 31, 2026:
Sterling Investments Limited (SIL) for the three months ended March 31, 2026, reported a 4% decrease in Interest Income totaling $33.05 million compared to $34.59 million in the corresponding quarter last year.
Foreign exchange losses amounted to $13.29 million (2025: gain of $22.69 million), reflecting Jamaican dollar appreciation in the first three months of 2026 versus the 1.29% depreciation that occurred in the same period of 2025.
Net gain on sale of debt investment securities at FVOCI decreased by 70% to $3.43 million (2025: $11.47 million).
Consequently, total revenue decreased by 66% to $23.19 million compared to $68.74 million for the three months ended March 31, 2025.
Interest expense decreased by 15% to close at $3.35 million (2025: $3.94 million), while Other Operating expenses increased by 5% from $13.21 million in 2025 to $13.84 million in the period under review. The company also reported a fair value gain on debt securities at FVTPL of $10.07 million in 2026, compared to a fair value loss of $4.45 million in 2025. No impairment charge was recorded in the period under review, relative to an impairment loss on financial instruments of $268,523 reported in 2025. As a result, Total Expenses (net) totalled $7.12 million, a 67% decrease from the corresponding period last year (2025: $21.86 million).
Operating Profit for the three months ended March 31, 2026, amounted to $16.07 million, a 66% decrease relative to $46.88 million reported in 2025.
Other Income totalled $6,278, an 88% decrease from the corresponding period last year (2025: $54,260).
Pretax Profit for the three months ended March 31, 2026, amounted to $16.08 million, a 66% decrease relative to $46.93 million reported in 2025.
No taxes were reported. As such, Net Profit for the period amounted to $16.08 million, a 66% decrease from the $46.93 million reported in 2025. Notably, Total comprehensive loss for the period was $18.30 million versus total comprehensive income of $61.26 million in 2025, driven by a $26.54 million negative change in fair value of FVOCI debt instrument securities.
Consequently, Earnings Per Share for the period amounted to $0.04 (2025: EPS: $0.11). The twelve-month trailing EPS was $0.20, and the number of shares used in these calculations was 436,756,505.
Notably, SIL’s stock price closed the trading period on May 18, 2026, at a price of $3.17 with a corresponding P/E ratio of 16.25x.
Balance Sheet Highlights
The company’s assets totalled $1.89 billion (2025: $1.82 billion). The growth in total assets was primarily driven by a $64.58 million or 4% increase in ‘Investment Securities’ to close the period at $1.74 billion.
Total liabilities increased by 4% to $285.03 million as at March 31, 2026, from $274.64 million as at March 31, 2025, primarily the result of increases in margin loan payable, which rose 14% to $273.89 million.
Shareholder’s equity was $1.60 billion (2025: $1.55 billion), representing a book value per share of $3.67 (2025: $3.56).
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