July 16, 2026
Caribbean Cream Limited (KREMI)
Unaudited financials for the first quarter ended May 31, 2026:
Caribbean Cream Limited (KREMI) for the first quarter ended May 31, 2026 reported a 10% increase in Gross Operating Revenue totalling $884.31 million compared to $802.51 million in the corresponding three months last year. Management noted that the increase was primarily attributable to the consistent availability of products across the distribution network.
Direct Expenses amounted to $580.92 million (2025: $571.45 million), representing an increase of 2% year over year. Consequently, Gross Profit increased by 31% to $303.39 million compared to $231.06 million for the first quarter ended May 31, 2025. The improvement was driven by higher sales and lower direct operating expenses, particularly maintenance costs, which management noted were significantly lower than in the prior year.
Other Income increased by 188% to $1.29 million from $448,800 in 2025. Administrative Expenses decreased by 1% to close at $199.24 million (2025: $200.84 million), while Selling and Distribution Expenses increased by 9% from $19.07 million in 2025 to $20.81 million for the three months. As a result, Total Operating Expenses amounted to $220.04 million, remaining broadly flat relative to $219.90 million reported in 2025.
Operating Profit for the three months amounted to $84.64 million, representing a 629% increase relative to $11.61 million reported in 2025. Finance Costs, net, decreased by 16% to $25.10 million compared to $29.81 million in the corresponding period last year.
Profit Before Taxation for the first quarter ended May 31, 2026 amounted to $59.54 million, compared to a Loss Before Taxation of $18.20 million reported in 2025. Taxation for the three months reflected a charge of $14.88 million, compared to a tax credit of $4.55 million in the prior year. Consequently, Net Profit for the three months amounted to $44.65 million, compared to a Net Loss of $13.65 million in 2025.
Consequently, Earnings Per Share for the three months amounted to $0.12 compared to a Loss Per Share of $0.04 in 2025. The twelve-month trailing Loss Per Share was approximately $0.10, and the number of shares used in these calculations was 378,568,115.
Notably, KREMI’s stock price closed the trading period on July 15, 2026 at $1.47.
Balance Sheet Highlights
The company’s Total Assets amounted to $2.45 billion at May 31, 2026, representing a 6% decrease from $2.61 billion in 2025. The decline was mainly driven by Property, Plant and Equipment, which decreased to $1.63 billion from $1.77 billion, as well as lower Inventories, which fell to $247.46 million from $298.39 million. Right-of-Use Assets also declined to $215.67 million from $246.54 million, while Cash and Cash Equivalents decreased to $50.43 million from $56.62 million.
Shareholders’ Equity declined to $828.97 million from $866.49 million in 2025, representing a book value per share of approximately $2.19 compared to $2.29 in the prior year.
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