May 11, 2026
Kingston Properties Limited (KPREIT)
Unaudited financials for the first quarter ended March 31, 2026:
Kingston Properties Limited (KPREIT) for the first quarter ended March 31, 2026, reported a 32% increase in total operating revenues totaling US$1.82 million compared to US$1.38 million in the corresponding three months last year.
Year to date, Operating Expenses amounted to US$607,581 (2025: US$583,539), this represents an increase of 4% year over year. Management fees for the period under review amounted to US$42,645 (2025: US$33,660). Consequently, results of operating activities before other income increased by 51% to US$1.26 million compared to US$833,429 for the first quarter ended March 31, 2025.
Fair value gain on investment properties decreased by 100% to close at nil (2025: US$371,908), while gain on disposal of investment properties amounted to nil (2025: US$96,639). Miscellaneous income amounted to US$13,485 (2025: Miscellaneous expenses of US$13,437). Consequently, Results of operating activities for the first quarter amounted to US$1.27 million, a 2% decrease relative to US$1.29 million reported in 2025.
Net finance costs totaled US$586,279, a 49% increase from the corresponding period last year (2025: US$392,597).
Profit before Income Tax for the first quarter ended March 31, 2026, amounted to US$684,477, a 24% decrease relative to US$895,942 reported in 2025. The tax charge for the three months amounted to US$25,520 (2025: tax credit of US$105,495). Profit for the period for the three months amounted to US$658,957, a 34% decrease from the US$1.00 million reported in 2025.
Consequently, Earnings Per Share for the three months amounted to US$0.0007 (2025: EPS: US$0.0011). The twelve-month trailing EPS was US$0.004, and the number of shares used in these calculations was 884,000,000. Notably, KPREIT’s stock price closed the trading period on May 8, 2026, at a price of $12.00 with a corresponding P/E ratio of 17.51x.
Balance Sheet Highlights
The company’s assets totaled US$98.42 million (2025: US$88.38 million). The movement in total assets was mainly influenced by a US$8.99 million increase in ‘Investment properties’ amounting to US$85.91 million (2025: US$76.92 million).
Shareholders’ equity was US$55.63 million (2025: US$52.81 million), representing a book value per share of US$0.06 (2025: US$0.06).
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