Cargo Handlers Limited (CHL)
Unaudited financials for the twelve months ended September 30, 2026:

Cargo Handlers Limited (CHL) for the twelve months ended September 30, 2026 reported a 1% decrease in Revenue totalling $476.65 million compared to $481.28 million in the corresponding period last year. Revenue for the fourth quarter declined marginally to $122.76 million compared to $123.70 million for the comparable quarter of 2025. Management noted that warehouse constraints and logistics challenges following Hurricane Melissa weighed on stevedoring income. Volume growth from the two container vessel services operating into Montego Bay partly offset the shortfall.

Cost of Sales amounted to $3.69 million (2025: $3.69 million), remaining broadly unchanged year over year. Consequently, Gross Profit decreased by 1% to $472.96 million compared to $477.59 million for the twelve months ended September 30, 2025. Gross Profit for the fourth quarter amounted to $122.76 million, compared to $123.70 million reported for the corresponding quarter of 2025.

Other Operating Income decreased by 96% to $952,665 from $21.62 million in 2025. For the fourth quarter, the company recorded Other Operating Expense of $1.63 million, compared to Other Operating Income of $10.95 million in the corresponding quarter of 2025. Management noted that results for the quarter included a $9.6 million exchange adjusting entry. Administrative Expenses increased by 14% to $46.76 million from $41.02 million in 2025, while Other Operating Expenses increased by 16% to $305.67 million from $263.23 million in the prior year. As a result, Total Operating Expenses amounted to $352.43 million, representing a 16% increase relative to $304.25 million reported in 2025. Management noted that fourth-quarter operating expenses of $96.17 million were 23% above the prior-year quarter, mainly due to inefficiencies in labour deployment that are being addressed.

Operating Profit for the twelve months ended September 30, 2026 amounted to $121.48 million, representing a 38% decrease from $194.96 million reported in 2025. For the fourth quarter, Operating Profit decreased by 56% to $24.96 million compared to $56.68 million in the corresponding quarter of 2025.

Share of Profit of Associates declined by 38% to $98.00 million from $156.91 million in 2025. For the fourth quarter, the company recorded a Share of Loss of Associates of $1.19 million, compared to a Share of Profit of $46.21 million in the corresponding quarter of 2025. Management noted that extraordinary costs at the associate caused by the hurricane reduced associated income by $59 million compared to the prior year, with most of this absorbed in the fourth quarter. The company also recorded Income from Investment Properties of $1.86 million, with no comparable income in 2025. Interest Income increased by 7% to $29.08 million from $27.20 million, while Finance Costs declined to $29,785 from $2.10 million in the prior year.

Profit Before Taxation for the twelve months ended September 30, 2026 amounted to $250.39 million, representing a 34% decrease from $376.98 million reported in 2025. For the fourth quarter, Profit Before Taxation amounted to $33.21 million, compared to $109.38 million in the corresponding quarter of 2025.

Taxation decreased by 42% to $30.83 million compared to $53.09 million in 2025. Consequently, Net Profit, being Total Comprehensive Income for the period, declined by 32% to $219.57 million compared to $323.89 million in the prior year. For the fourth quarter, the company recorded a Taxation Credit of $163,630, compared to a charge of $5.46 million in 2025, and Net Profit amounted to $33.37 million, compared to $103.92 million in the corresponding quarter of 2025.

Consequently, Earnings Per Share for the twelve months amounted to $0.59 compared to $0.86 in 2025, while Earnings Per Share for the fourth quarter amounted to $0.09 compared to $0.28 for the corresponding quarter of 2025. The twelve-month trailing EPS was approximately $0.59, and the number of stock units used in these calculations was 416,250,000.

Notably, CHL’s stock price closed the trading period on November 13, 2026, at $16.72. Using the twelve-month trailing EPS of approximately $0.59, this represents a P/E ratio of approximately 28.53x.

Balance Sheet Highlights

The company’s Total Assets amounted to $1.62 billion at September 30, 2026, representing a 10% increase from $1.47 billion in 2025. The increase was mainly driven by higher Short-Term Deposits, which rose to $720.38 million from $578.63 million, as well as Investment in Associate, which increased to $642.95 million from $544.95 million. Receivables also increased to $49.47 million from $22.12 million. These increases were partly offset by Cash, which declined to $78.30 million from $183.22 million, and Property, Plant and Equipment, which decreased to $124.17 million from $140.08 million.

Shareholders’ Equity increased to $1.54 billion from $1.40 billion in 2025, after dividends of $82.42 million, representing a book value per share of approximately $3.69 compared to $3.36 in the prior year.