August 17, 2026
Atlantic Hardware & Plumbing Company Limited (AHPC)
Unaudited financials for the six months ended June 30, 2026:
Atlantic Hardware & Plumbing Company Limited (AHPC) for the six months ended June 30, 2026 reported a 69% increase in Revenue totalling $1.46 billion compared to $864.33 million in the corresponding period last year. Revenue for the second quarter increased by 92% to $776.42 million compared to $404.82 million for the comparable quarter of 2025. Management noted that the performance was driven by strong demand across core customer segments, expansion into agro-distribution, improved product availability and disciplined execution of the company’s commercial strategy.
Cost of Sales amounted to $1.06 billion (2025: $610.38 million), representing an increase of 74% year over year. Consequently, Gross Profit increased by 59% to $403.64 million compared to $253.95 million for the six months ended June 30, 2025. Gross Profit for the second quarter amounted to $199.34 million, compared to $123.14 million reported for the corresponding quarter of 2025.
Other Income decreased by 7% to $19.10 million from $20.47 million in 2025. Selling, General and Administrative Expenses increased by 50% to $256.70 million from $170.84 million in the prior year. Management noted that the increase in expenses was mainly driven by higher staff-related expenses, expected credit losses and increased operating activity, including the continued build-out of the company’s agro-distribution business.
Operating Profit for the six months ended June 30, 2026 amounted to $166.04 million, representing a 60% increase from $103.59 million reported in 2025. For the second quarter, Operating Profit increased by 72% to $68.51 million compared to $39.89 million in the corresponding quarter of 2025.
Finance Costs decreased by 22% to $49.76 million compared to $64.20 million in the prior year.
Profit Before Taxation for the six months ended June 30, 2026 amounted to $116.28 million, representing a 195% increase from $39.39 million reported in 2025. For the second quarter, Profit Before Taxation amounted to $42.03 million, compared to $17.49 million in the corresponding quarter of 2025.
No taxation charge was recorded for the six months ended June 30, 2026, compared to $5.46 million in 2025. Consequently, Net Profit for the six months amounted to $116.28 million, representing a 243% increase from $33.93 million reported in the prior year. For the second quarter, Net Profit amounted to $42.03 million, compared to $17.49 million in the corresponding quarter of 2025.
Consequently, Earnings Per Stock Unit for the six months amounted to $0.047 compared to $0.015 in 2025, while Earnings Per Stock Unit for the second quarter amounted to $0.017 compared to $0.007 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 2,449,999,800.
Notably, AHPC’s stock price closed the trading period on August 14, 2026, at $1.12 with a corresponding P/E ratio of approximately 18.52x.
Balance Sheet Highlights
The company’s Total Assets amounted to $1.86 billion at June 30, 2026, representing a 25% increase from $1.49 billion in 2025. The increase was mainly driven by Inventories, which rose to $955.77 million from $789.63 million, as well as Cash and Cash Equivalents, which increased to $255.02 million from $105.04 million. Accounts Receivable and Prepayments also increased to $412.83 million from $309.84 million, while Property, Plant and Equipment rose to $66.34 million from $30.68 million.
Shareholders’ Equity increased to $596.35 million from $445.12 million in 2025, representing a book value per share of approximately $0.24 compared to $0.18 in the prior year.
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