December 22, 2025
Honey Bun Limited (HONBUN)
Audited financials for the twelve months ended September 30, 2025:
Honey Bun Limited (HONBUN), for the twelve months ended September 30, 2025, reported a 9% increase in revenue, totalling $4.18 billion, compared to $3.84 billion in the corresponding period last year. Fourth-quarter revenue grew by 11%, closing at $1.06 billion, versus $951.94 million for the comparable quarter of 2024.
Cost of Sales amounted to $2.25 billion (2024: $2.09 billion), representing an 8% year-over-year increase. Consequently, gross profit rose by 10% to $1.93 billion, compared to $1.75 billion for the twelve months ended September 30, 2024. For the fourth quarter, the company recorded gross profit of $482.50 million, versus $411.81 million reported for the similar quarter of 2024.
Administrative Expenses increased by 32%, closing at $1.07 billion (2024: $805.51 million), while Selling, Distribution & Promotion Expenses rose by 14%, moving from $630.87 million in 2024 to $720.80 million in the period under review. As a result, total operating expenses for the twelve months ended September 30, 2025, amounted to $1.79 billion, a 24% increase relative to $1.44 billion reported in 2024.
Impairment losses on financial assets amounted to $17.07 million ($21.74 million). Consequently, Operating profit for the twelve months ended September 30, 2025, was $128.57 million, a 57% decrease compared to $297.25 million reported in 2024. For the fourth quarter, the company recorded an operating loss of $80.63 million (2024: loss of $8.03 million).
Finance Income totalled $2.67 million, an 85% decrease from the corresponding period last year (2024: $17.88 million), while Finance Cost amounted to $13.27 million, a 68% increase from the prior year (2024: $41.90 million). Unrealized loss on investments amounted to $1.59 million (2024: unrealized loss of $114, 867).
Profit before Taxation for the twelve months ended September 30, 2025, was $116.39 million, a 57% decrease compared to $273.12 million reported in 2024. For the fourth quarter, the company recorded a loss before taxation of $84.22 million (2024: loss of $35.62 million). Tax charge incurred amounted to $7.17 million (2024: $43.04 million).
As a result, Net Profit for the twelve months was $109.22 million, a 53% decrease from $230.07 million reported in 2024. For the fourth quarter, the company recorded a net loss of $41.41 million (2024: loss of $10.91 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.23 (2024: EPS: $0.49), while Loss Per Share for the quarter totaled $0.09 (2024: LPS: $0.02). The twelve-month trailing EPS was $0.23 and the number of shares used in these calculations was 471,266,950.
Notably, HONBUN’s stock price closed the trading period on December 19, 2025, at a price of $7.49 with a corresponding P/E ratio of 32.32x.
Balance Sheet Highlights
The company’s assets totalled $2.96 billion (2024: $2.62 billion). The movement in total assets was primarily attributable to a 106% increase in ‘Plant, property and equipment’ amounting to $1.59 billion (2024: $772.74 million).
Shareholder’s equity was $1.52 billion (2024: $1.47 billion), representing a book value per share of $3.23 (2024: $3.12).
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