November 13, 2026
WEST INDIES PETROLEUM TERMINAL LIMITED (WIPT)
Unaudited financials for the nine months ended September 30, 2026
Expressed in United States dollars (except where indicated otherwise)
West Indies Petroleum Terminal Limited (WIPT), for the nine months ended September 30, 2026, reported a 22% increase in Revenue to $7.75 million, compared with $6.36 million in the corresponding period last year. Revenue for the third quarter rose 24% to $2.70 million, compared with $2.18 million in the comparable quarter of 2025.
Other income amounted to $25,807 (2025: $136,604), a decrease of 81% year over year. Consequently, total revenue increased by 20% to $7.77 million, compared to $6.50 million for the nine months ended September 30, 2025. The company booked total revenue of $2.71 million for the third quarter, versus $2.23 million for the same quarter of 2025.
Management noted that throughput volumes for the nine months rose to 2.2 mbbls, up from 1.4 mbbls in 2025, which it said validates the company’s strategic alliances with international partners. Three factors drove the increase:
- higher bunkering volumes in the ultimate parent’s joint operations with an international partner
- increased throughput by WIPT’s international fuel partner to its local affiliate
- higher fuel volumes at the company’s immediate parent
Third-party revenue for the nine months reached $5.3 million, up 89% year over year, and now accounts for 68% of topline revenue. In the third quarter, throughput volumes rose by 0.33 mbbls over the corresponding quarter as the company continued to diversify its revenue mix toward third-party business.
Operating and Administrative expenses increased by 15% to $4.21 million (2025: $3.65 million). For the quarter they rose 34% to $1.70 million (Q3 2025: $1.27 million), mainly because of higher management fees paid to the ultimate parent company for accounting and management services and higher pier throughput costs for product importation. Net Impairment Loss on Financial Assets fell from $115,883 in 2025 to nil in the period under review. As a result, operating profit for the nine months ended September 30, 2026, amounted to $3.57 million, a 30% increase on the $2.73 million reported in 2025. Operating profit for the third quarter rose 10%, from $919,491 in 2025 to $1.01 million in 2026.
Net Finance costs for the nine months ended September 30, 2026, amounted to $567,115, an 18% decrease from $689,471 in 2025.
Profit before Taxation totalled $3.00 million, a 47% increase on the corresponding period last year (2025: $2.04 million). For the third quarter, Profit before Taxation rose 27% to $877,656 (Q3 2025: $688,946).
The taxation charge for the nine months ended September 30, 2026, amounted to $278,477, a 141% increase on the $115,646 reported in 2025. As a result, Net Profit for the nine months rose 41% to $2.72 million (2025: $1.93 million). For the third quarter, Net Profit amounted to $792,387, a 22% increase from $648,082 in 2025.
Consequently, Earnings Per Share for the nine months amounted to US$0.00024 (2025: US$0.00017), while Earnings Per Share for the quarter totalled US$0.00007 (2025: US$0.00006). The twelve-month trailing EPS was US$0.00029 (J$0.046), and the number of shares used in these calculations was 11,180,372,000.
Notably, WIPT’s stock price closed on November 13, 2026, at J$9.11, with a corresponding P/E ratio of 196.03x.
Balance Sheet Highlights
The company’s total assets stood at $42.24 million (2025: $42.87 million), a year-over-year decrease of $622,651. The decline was mainly driven by three items:
- a $1.40 million reduction in PP&E from depreciation charges
- a $431,877 reduction in the Right-of-Use Asset from amortization
- a $733,583 reduction in amounts due from related parties
These were partly offset by a $1.73 million increase in cash and cash equivalents and a $212,017 increase in receivables.
Total liabilities fell by $3.87 million to $10.00 million (2025: $13.87 million). This was largely due to the settlement of related-party balances of $3.26 million, a $554,449 reduction in total borrowings and a $390,024 reduction in lease liabilities.
Shareholders’ equity grew to $32.24 million (2025: $28.99 million), representing a book value per share of J$0.46 (2025: J$0.41).
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