Caribbean Flavours and Fragrances Limited (CFF)
Unaudited financials for the six months ended June 30, 2026:

Caribbean Flavours and Fragrances Limited (CFF) for the six months ended June 30, 2026 reported an 8% decrease in Revenue totalling $486.40 million compared to $529.24 million in the corresponding period last year. Revenue for the second quarter declined by 17% to $251.69 million compared to $302.80 million for the comparable quarter of 2025.

Cost of Sales amounted to $274.45 million (2025: $315.18 million), representing a decrease of 13% year over year. Consequently, Gross Profit decreased marginally by 1% to $211.95 million compared to $214.06 million for the six months ended June 30, 2025. Gross Profit for the second quarter amounted to $113.67 million, representing a 3% decrease from $116.80 million reported for the corresponding quarter of 2025. Gross Profit Margin improved to 43.58% from 40.45%, reflecting the sale of higher-margin products during the second quarter.

Selling and Distribution Costs decreased by 50% to $1.25 million from $2.51 million in 2025, while Administrative Expenses decreased by 2% to $107.62 million from $110.00 million in the prior year. As a result, Total Operating Expenses for the six months ended June 30, 2026 amounted to $108.87 million, representing a 3% decrease relative to $112.50 million reported in 2025.

Operating Profit for the six months ended June 30, 2026 amounted to $103.09 million, representing a 2% increase from $101.55 million reported in 2025. For the second quarter, Operating Profit amounted to $58.29 million, compared to $59.28 million in the corresponding quarter of 2025.

Net Finance Income decreased by 48% to $3.90 million compared to $7.48 million in the prior year, as the company earned lower interest income during the period. Profit Before Taxation for the six months ended June 30, 2026 amounted to $106.99 million, representing a 2% decrease from $109.03 million reported in 2025. For the second quarter, Profit Before Taxation amounted to $59.78 million, compared to $62.20 million in the corresponding quarter of 2025.

Taxation decreased by 11% to $24.00 million compared to $27.00 million in 2025. Consequently, Net Profit for the six months amounted to $82.99 million, representing a 1% increase from $82.03 million in the prior year. For the second quarter, Net Profit amounted to $46.78 million, compared to $44.20 million in the corresponding quarter of 2025.

Consequently, Earnings Per Share for the six months amounted to $0.09, unchanged from $0.09 in 2025, while Earnings Per Share for the second quarter also remained unchanged at $0.05. The twelve-month trailing EPS was approximately $0.13, and the weighted average number of shares used in these calculations was 899,200,330.

Notably, CFF’s stock price closed the trading period on August 14, 2026 at $1.21. Using the twelve-month trailing EPS of approximately $0.13, this represents a P/E ratio of approximately 9.49x.

Balance Sheet Highlights

The company’s Total Assets amounted to $1.00 billion at June 30, 2026, representing a 4% increase from $966.38 million in 2025. The increase was mainly driven by Due from Related Parties, which rose to $452.05 million from $337.91 million, as well as Receivables, which increased to $196.04 million from $158.52 million. Management noted that the higher receivables balance reflected customers taking longer to settle balances.

Shareholders’ Equity increased to $842.38 million from $772.66 million in 2025, representing a book value per share of approximately $0.94 compared to $0.86 in the prior year.