June 15, 2026
The Limners and Bards Limited (LAB)
Unaudited financials for the six months ended April 30, 2026:
The Limners and Bards Limited (LAB) for the six months ended April 30, 2026, reported a 27% decrease in Operating Revenue totaling $337.78 million compared to $460.21 million in the corresponding period last year. Operating Revenue for the second quarter had a 4% decrease to close at $166.93 million compared to $174.08 million for the comparable quarter of 2025.
Cost of Operating Revenue amounted to $211.36 million (2025: $284.75 million), representing a decrease of 26% year over year. Consequently, Gross Profit decreased by 28% to $126.42 million compared to $175.46 million for the six months ended April 30, 2025. The company booked Gross Profit of $69.07 million for the second quarter versus $74.91 million reported for the similar quarter of 2025.
Profit on Disposal of Assets amounted to $129,594 compared to nil in 2025. Selling and Distribution Expenses decreased by 63% to close at $1.06 million (2025: $2.85 million), while Administrative Expenses decreased by 6% from $150.69 million in 2025 to $141.45 million in the period under review. As a result, Total Operating Expenses for the six months ended April 30, 2026, amounted to $142.51 million, a 7% decrease relative to $153.53 million reported in 2025.
Loss Before Net Finance Cost and Taxation for the six months ended April 30, 2026, amounted to $14.29 million, compared to Profit Before Net Finance Cost and Taxation of $21.38 million reported in 2025. For the second quarter, Profit Before Net Finance Cost and Taxation amounted to $524,317, compared to a loss of $1.86 million in the similar quarter of 2025.
Finance Income decreased by 21% to $6.45 million (2025: $8.19 million), while Finance Costs increased by 53% to $8.50 million (2025: $5.57 million). As a result, Net Finance Cost amounted to $2.04 million, compared to Net Finance Income of $2.62 million reported in 2025.
Loss Before Taxation for the six months ended April 30, 2026, amounted to $16.33 million, compared to Profit Before Taxation of $24.00 million reported in 2025. Profit Before Taxation for the second quarter amounted to $1.20 million, compared to a loss before taxation of $1.24 million in the similar quarter of 2025.
Taxation for the six months ended April 30, 2026, reflected a tax credit of $2.85 million, compared to a taxation charge of $3.40 million reported in 2025. Net Loss for the six months amounted to $13.48 million, compared to Net Profit of $20.60 million reported in 2025. For the second quarter, Net Profit amounted to $191,230, compared to a Net Loss of $998,768 in the corresponding quarter of 2025.
Consequently, Loss Per Share for the six months amounted to $0.01 (2025: EPS: $0.02), while Earnings Per Share for the quarter totaled $0.02 (2025: LPS: $0.11). The twelve-month trailing EPS was $0.01, and the number of shares used in these calculations was 945,690,252.
Notably, LAB’s stock price closed the trading period on June 12, 2026, at a price of $1.00 with a corresponding P/E ratio of 154.91x.
Balance Sheet Highlights
The company’s assets totalled $1.02 billion (2025: $1.04 billion). The decrease in total assets was mainly driven by lower Accounts Receivable, which fell to $266.31 million from $298.92 million, as well as a decline in Cash and Cash Equivalents to $311.97 million from $332.46 million. Property, Plant and Equipment also declined to $71.72 million from $91.13 million, while Right-of-Use Assets decreased to $72.30 million from $77.65 million.
Shareholders’ Equity was $648.51 million (2025: $659.15 million), representing a book value per share of $0.69 (2025: $0.70).
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