July 16, 2026
AMG Packaging & Paper Company Limited (AMG)
Unaudited financials for the nine months ended May 31, 2026:
AMG Packaging & Paper Company Limited (AMG) for the nine months ended May 31, 2026 reported a 15% decrease in Turnover totalling $648.48 million compared to $763.87 million in the corresponding period last year. Turnover for the third quarter decreased by 11% to close at $233.88 million compared to $262.91 million for the comparable quarter of 2025.
Total Manufacturing Costs amounted to $454.38 million (2025: $501.76 million), representing a decrease of 9% year over year. This was driven by a 12% decline in Cost of Inventories to $294.49 million from $335.87 million, while Direct Costs decreased by 4% to $159.90 million from $165.89 million. Consequently, Gross Profit decreased by 26% to $194.09 million compared to $262.10 million for the nine months ended May 31, 2025. Gross Profit for the third quarter amounted to $72.10 million, compared to $96.28 million for the corresponding quarter of 2025.
Administrative Expenses increased by 6% to $123.95 million (2025: $116.86 million), while Directors’ Fees remained unchanged at $7.44 million. Depreciation decreased by 2% from $36.88 million in 2025 to $36.03 million in the period under review. As a result, Total Expenses for the nine months amounted to $167.42 million, representing a 4% increase relative to $161.18 million reported in 2025.
Operating Profit for the nine months ended May 31, 2026 amounted to $26.68 million, representing a 74% decrease from $100.92 million reported in 2025. Operating Profit for the third quarter amounted to $17.76 million, compared to $47.55 million in the corresponding quarter of 2025.
Finance Costs decreased by 21% to $3.70 million from $4.70 million in 2025. Other Income increased by 17% to $13.25 million compared to $11.30 million in the prior year. However, the company did not record a gain on Disposal of Fixed Assets in the current period, compared to $4.20 million reported in 2025.
Net Income Before Tax for the nine months ended May 31, 2026 amounted to $36.23 million, representing a 68% decrease from $111.72 million reported in 2025. For the third quarter, Net Income Before Tax amounted to $21.17 million, compared to $49.83 million in the corresponding quarter of 2025.
Income Tax decreased by 55% to $8.23 million from $18.20 million in 2025. Consequently, Net Income After Tax for the nine months decreased by 70% to $28.01 million compared to $93.52 million in the prior year. For the third quarter, Net Income After Tax amounted to $16.30 million, compared to $38.03 million in the corresponding quarter of 2025.
Consequently, Earnings Per Share for the nine months amounted to $0.05 compared to $0.18 in 2025, while Earnings Per Share for the third quarter amounted to $0.03 compared to $0.07 for the corresponding quarter of 2025. The twelve-month trailing EPS was approximately $0.06, and the number of shares used in these calculations was 511,894,285.
Notably, AMG’s stock price closed the trading period on July 15, 2026, at a price of $1.60 with a corresponding P/E ratio of 27.45x.
Balance Sheet Highlights
The company’s Total Assets amounted to $1.67 billion at May 31, 2026, representing a 5% decrease from $1.76 billion in May 2025. The decline was mainly driven by lower Property, Plant and Equipment, which fell to $901.46 million from $986.57 million. Cash and Cash Equivalents also decreased to $366.01 million from $394.20 million, while Accounts Receivable declined to $124.13 million from $138.91 million.
Shareholders’ Equity amounted to $1.49 billion, compared to $1.52 billion in 2025, representing a book value per share of approximately $2.92 compared to $2.98 in the prior year.
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