May 15, 2025
Berger Paints Jamaica Limited(BRG)
Unaudited financials for the first quarter ended March 31, 2025:
Berger Paints Jamaica Limited (BRG) for the first quarter ended March 31, 2025, reported a marginal decrease in Revenue totalling $769.17 million compared to $772.35 million in the corresponding three months last year. BRG highlighted, “Revenues decreased primarily due to temporary delays in construction projects and short-term supply chain disruptions. Despite these headwinds, we remained agile, responsive, and fully committed to serving our customers with excellence.”
Raw materials and consumable used expenses amounted to $261.71 million (2024: $286.39 million), this represents a decrease of 9% year over year.
Changes in inventories of finished goods and work in progress amounted to an expense of $119.89 million compared to an expense of $43.48 million for the first quarter ended March 31, 2024.
Employee benefit expenses increased by 8% to close at $165.96 million (2024: $154.28 million), while Other operating expense decreased by 19% from $212.45 million in 2024 to $172.15 million for the three months. Also, Manufacturing Expenses for the first quarter amounted to $12.85 million, a 10% decrease relative to $14.32 million reported in 2024.
Total Expenses for the three months amounted to $756.99 million, a 3% increase relative to $732.98 million reported in 2024.
Other income totalled $4.76 million a 61% decrease from the corresponding period last year. (2024: $12.12 million).
Profit before Tax for the first quarter ended March 31, 2025, amounted to $16.94 million, a 67% decrease relative to $51.48 million reported in 2024.
Taxation for the three months had an 89% increase to reach $6.02 million (2024: $3.19 million). As such, Net Profit for the three months amounted to $10.92 million, a 77% decrease from the $48.29 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.05 (2024: EPS: $0.23). The twelve-month trailing EPS was $0.32 and the number of shares used in these calculations was 214,322,393.
Notably, BRG’s stock price closed the trading period on May 15, 2025, at a price of $7.07 with a corresponding P/E ratio of 22.18x.
Balance Sheet Highlights
The company’s assets totalled $2.51 billion (2024: $2.40 billion). The growth in total assets was mainly due to a $296.13 million increase in ‘Trade and other receivables’, which was partly offset by a $88.21 million and $59.52 million downturn in Inventories and Cash balances, respectively.
Shareholder’s equity was $1.18 billion (2024: $1.10 billion), representing a book value per share of $5.50 (2024: $5.12).
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