January 15, 2026
Knutsford Express Services Limited(KEX)
Unaudited financials for the six months ended November 30, 2025:
Knutsford Express Services Limited (KEX) for the six months ended November 30, 2025, reported a 4% decrease in revenue totaling $1.01 billion, compared to $1.05 billion for the corresponding period last year. Revenue for the second quarter declined by 17% to $413.00 million, versus $500.15 million for the comparable quarter of 2024.
Administrative and General Expenses amounted to $910.52 million (2024: $873.30 million), representing a 4% increase year-over-year. As a result, Operating profit decreased by 42% to $102.18 million, compared to $176.56 million for the six months ended November 30, 2024. For the second quarter, operating profit was $3.80 million, down from $77.73 million in the similar quarter of 2024.
Finance Income declined by 21% to $6.79 million (2024: $8.58 million), while Finance Costs decreased by 10%, from $32.58 million in 2024 to $29.18 million in the period under review. As a result, profit before taxation for the six months amounted to $79.80 million, a 48% decrease relative to $152.56 million reported in 2024.
The tax charge incurred for the six months was $16.99 million, down 48% from $32.84 million in 2024. Consequently, Net Profit totaled $62.81 million, a 48% decrease from $119.72 million in the corresponding period last year.
Net loss for the second quarter amounted to $3.58 million versus the profit of $53 million recorded in the prior year.
Consequently, Earnings Per Share for the six months amounted to $0.13 (2024: EPS: $0.24), while Loss Per Share for the quarter totalled $0.01 (2024: EPS: $0.11). The twelve-month trailing EPS was $0.36 and the number of shares used in these calculations was 500,000,015.
Notably, KEX’s stock price closed the trading period on January 14, 2026, at a price of $9.70 with a corresponding P/E ratio of 26.94x.
Balance Sheet Highlights
The company’s assets totaled $2.38 billion (2024: $2.06 billion). The movement in total assets was primarily driven by a 24% increase in investment properties, which rose to J$755.42 million from J$608.84 million in 2024.
Shareholder’s equity was $1.53 billion (2024: $1.35 billion), representing a book value per share of $3.07 (2024: $2.71).
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