September 29, 2026
MFS Capital Partners Limited (MFS)
Audited financials for the twelve months ended June 30, 2026
MFS Capital Partners Limited (MFS) for the twelve months ended June 30, 2026, reported revenue of $139.27 million, a 2% decline compared to $143.78 million in the corresponding period last year. Revenue was derived from net gains on cambio trading activities of $125.95 million (2025: $130.36 million), remittance service fees of $7.10 million (2025: $7.45 million), and interest income from the private credit portfolio of $6.22 million (2025: $5.98 million).
Other income for the period was $76.32 million, a small increase from $75.57 million in the prior year. Current-year other income was driven by a $65.0 million investment property revaluation gain, while the prior year’s figure had instead been boosted by a $50.0 million related-party balance write-off and $18.65 million of payables written off, neither of which recurred in the current period. Operating and administrative expenses declined by $11.77 million, or 12%, to $88.59 million (2025: $100.36 million), reflecting cost-savings across several lines, including accounting fees, audit fees, directors’ fees and management remuneration.
Consequently, Operating Profit for the twelve months amounted to $122.64 million (2025: $147.38 million), a decline that also reflects the absence of the $28.31 million gain on disposal of subsidiaries booked in the prior year and a swing in the group’s share of results from its associate, Capital Solutions Limited, to a $4.36 million loss (2025: $79,056 profit). Finance costs, net, increased to $5.88 million (2025: $4.85 million).
As such, Profit before Taxation for the twelve months was $116.76 million, $25.78 million or 18% lower than the $142.53 million reported in the prior year — a decline that narrows materially on a normalised basis once the non-recurring prior-year items (the subsidiary-disposal gain and the related-party write-off) are stripped out.
Taxation for the twelve months amounted to $27.29 million (2025: $29.48 million). Net Profit totalled $89.47 million, compared to $113.06 million in the prior year, which had included $2.67 million attributable to non-controlling interest (nil in the current year following prior-year subsidiary disposals).
Earnings Per Share for the twelve months amounted to $0.14 (2025: $0.17). The weighted average number of ordinary shares used in this calculation was 660,400,000.
Notably, MFS’s stock price closed on September 28, 2026, at $0.47, with a corresponding trailing P/E ratio of approximately 3.47x.
Balance Sheet Highlights
The Group’s total assets totalled $732.64 million (2025: $658.18 million), a $74.46 million, or 11.3%, increase. Key components include investment property of $470.0 million (2025: $405.0 million), goodwill of $66.98 million (2025: $66.98 million), and investment in associate of $56.77 million (2025: $61.12 million).
The Group’s shareholders’ equity as at June 30, 2026, was $383.67 million (2025: $293.01 million), representing a book value per share of approximately $0.58 (2025: $0.44). Notably, retained earnings turned positive for the first time in recent years, closing at $12.42 million versus an accumulated deficit of $78.31 million in the prior year.
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