August 18, 2026
Dolphin Cove Limited (DCOVE)
Unaudited financials for the six months ended June 30, 2026:
All figures are stated in US$ unless otherwise indicated.
Dolphin Cove Limited (DCOVE) for the six months ended June 30, 2026 reported a 37% decrease in Overall Revenue totalling US$5.24 million compared to US$8.36 million in the corresponding period last year. Overall Revenue for the second quarter declined by 37% to US$2.69 million compared to US$4.27 million for the comparable quarter of 2025. Management noted that second-quarter operations continued to be affected by the gradual recovery of Jamaica’s tourism sector, with reduced airlift, lower hotel room inventory and fewer cruise calls limiting visitor volumes.
Direct Costs amounted to US$589,094 (2025: US$1.02 million), representing a 42% decrease year over year. Consequently, Gross Profit decreased by 37% to US$4.65 million compared to US$7.34 million for the six months ended June 30, 2025. Gross Profit for the second quarter amounted to US$2.38 million, compared to US$3.80 million reported for the corresponding quarter of 2025.
Selling Expenses decreased by 30% to US$1.19 million from US$1.69 million in 2025, while Other Operating Expenses decreased by 8% to US$1.87 million from US$2.03 million. Administrative Expenses increased by 2% to US$1.23 million from US$1.20 million in the prior year. As a result, Total Operating Expenses for the six months ended June 30, 2026 amounted to US$4.29 million, representing a 13% decrease relative to US$4.93 million reported in 2025.
Profit before Finance Income and Costs for the six months ended June 30, 2026 amounted to US$607,537, representing a 75% decrease from US$2.41 million reported in 2025. For the second quarter, Profit before Finance Income and Costs amounted to US$274,288, compared to US$1.32 million in the corresponding quarter of 2025.
Finance Income decreased to US$8,949 from US$31,079 in 2025, while Finance Costs increased to US$290,057 from US$281,446. As a result, Net Finance Costs amounted to US$281,108, representing a 12% increase from US$250,367 in the prior year.
Profit Before Taxation for the six months ended June 30, 2026 amounted to US$326,429, representing an 85% decrease from US$2.16 million reported in 2025. For the second quarter, Profit Before Taxation amounted to US$128,016, compared to US$1.19 million in the corresponding quarter of 2025.
Taxation decreased by 53% to US$111,222 compared to US$234,231 in 2025. Consequently, Net Profit for the six months amounted to US$215,207, representing an 89% decrease from US$1.93 million reported in the prior year. For the second quarter, Net Profit amounted to US$72,406, compared to US$1.07 million in the corresponding quarter of 2025.
The company also recorded Other Comprehensive Income, net of taxes, of US$2.53 million, reflecting the revaluation of land and buildings. As a result, Total Comprehensive Income for the six months amounted to US$2.75 million compared to US$1.93 million in 2025. For the second quarter, Total Comprehensive Income amounted to US$2.61 million, compared to US$1.07 million in the prior year’s quarter.
Consequently, Earnings Per Stock Unit for the six months amounted to US$0.0005, or approximately J$0.08 compared to US$0.0049, or approximately J$0.79. Earnings Per Stock Unit for the second quarter amounted to US$0.0002, or approximately J$0.03, compared to US$0.0027, or approximately J$0.43, for the corresponding quarter of 2025. The twelve-month trailing Loss Per Share was US$0.0103, or approximately J$1.63, and the number of shares used in these calculations was 392,426,376.
Notably, DCOVE’s stock price closed the trading period on August 17, 2026 at J$10.76.
Balance Sheet Highlights
The company’s Total Assets amounted to US$35.08 million at June 30, 2026, representing a 4% decrease from US$36.63 million in 2025. The decline was mainly driven by lower Due from Related Companies, which fell to US$135,570 from US$2.15 million, as well as a decrease in Trade and Other Receivables to US$1.33 million from US$1.99 million. Live Assets also declined to US$2.83 million from US$3.12 million, while Inventories decreased to US$601,954 from US$740,838.
Shareholders’ Equity stood at US$29.99 million compared to US$31.18 million in 2025. Based on 392,426,376 shares in issue, book value per share amounted to approximately US$0.076, or J$12.09. This compares to approximately US$0.079, or J$12.78.
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