October 16, 2026
Caribbean Cream Limited (KREMI)
Unaudited financials for the six months ended August 31, 2026:
Caribbean Cream Limited (KREMI) for the six months ended August 31, 2026 reported a 9% increase in Gross Operating Revenue totalling $1.77 billion compared to $1.63 billion in the corresponding period last year. Gross Operating Revenue for the second quarter increased by 8% to $890.57 million compared to $825.56 million for the comparable quarter of 2025. Management noted that the continued growth in revenue was primarily supported by improved product availability across the company’s distribution network.
Direct Expenses amounted to $1.13 billion (2025: $1.14 billion), representing a decrease of 1% year over year. Consequently, Gross Profit increased by 32% to $648.42 million compared to $491.35 million for the six months ended August 31, 2025. Gross Profit for the second quarter increased by 33% to $345.03 million compared to $260.28 million in the corresponding quarter of 2025. Management attributed the improved gross profit performance to higher revenue and lower cost of sales, supported by operational efficiencies, including lower water charges following the construction of a well, proactive maintenance initiatives and effective cost management.
Other Income increased to $11.34 million from $3.15 million in 2025. Administrative Expenses increased marginally by 1% to $407.78 million from $403.47 million, while Selling and Distribution Expenses increased by 11% to $47.89 million from $43.02 million. As a result, Total Operating Expenses for the six months amounted to $455.67 million, representing a 2% increase relative to $446.49 million reported in 2025.
Operating Profit for the six months ended August 31, 2026 amounted to $204.09 million, representing a 325% increase from $48.01 million reported in 2025. For the second quarter, Operating Profit increased by 228% to $119.46 million compared to $36.40 million in the corresponding quarter of 2025.
Net Finance Costs decreased by 14% to $52.42 million compared to $60.60 million in the prior year. Consequently, the company reported Profit Before Taxation of $151.68 million for the six months ended August 31, 2026, compared to a Loss Before Taxation of $12.59 million in 2025. For the second quarter, Profit Before Taxation increased to $92.14 million from $5.61 million in the corresponding quarter of 2025.
The company recorded a Taxation Charge of $37.92 million for the six months ended August 31, 2026, compared to a Taxation Credit of $3.15 million in the prior year. For the second quarter, Taxation amounted to $23.03 million, compared to $1.40 million in 2025.
Consequently, Net Profit, being Total Comprehensive Income for the six months, amounted to $113.76 million, compared to a Net Loss of $9.45 million in the corresponding period last year. For the second quarter, Net Profit increased to $69.10 million from $4.21 million in the corresponding quarter of 2025.
Consequently, Earnings Per Stock Unit for the six months amounted to $0.30 compared to a Loss Per Stock Unit of $0.02 in 2025, while Earnings Per Stock Unit for the second quarter amounted to $0.18 compared to $0.01 for the corresponding quarter of 2025. The twelve-month trailing EPS was approximately $0.07, and the number of shares used in these calculations was 378,568,115.
Notably, KREMI’s stock price closed the trading period on October 15, 2026, at $3.30. Using the twelve-month trailing EPS of approximately $0.07, this represents a P/E ratio of approximately 45.64x.
Balance Sheet Highlights
The company’s Total Assets amounted to approximately $2.56 billion at August 31, 2026, representing a 2% decrease from approximately $2.60 billion in 2025. The decline was mainly driven by Property, Plant and Equipment, which decreased to $1.64 billion from $1.78 billion, as well as Right-of-Use Assets, which fell to $207.44 million from $239.65 million. Inventories also declined slightly to $287.97 million from $292.38 million.
Shareholders’ Equity increased to $898.08 million from $870.70 million in 2025, representing a book value per share of approximately $2.37 compared to $2.30 in the prior year.
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