November 17, 2025
Productive Business Solutions Limited(PBS)
Unaudited financials for the nine months ended September 30, 2025:
Productive Business Solutions Limited (PBS) reported an 8% decrease in revenue, totaling US$264.18 million, compared to US$288.39 million for the corresponding period in 2024. Revenue for the third quarter declined by 33%, closing at US$80.32 million versus US$120.49 million for Q3 2024.
Direct Expenses amounted to US$174.64 million (2024: US$208.65 million), representing a 16% year-over-year decrease. Consequently, gross profit increased by 12% to US$89.54 million, compared to US$79.75 million for the nine months ended September 30, 2024. For the third quarter, gross profit was US$27.90 million, slightly down from US$28.61 million reported for the same quarter in 2024.
Other Income rose by 30%, closing at US$2.92 million (2024: US$2.25 million), while Selling, General and Administrative Expenses increased by 11%, moving from US$64.31 million in 2024 to US$71.12 million in the period under review. As a result, operating profit for the nine months ended September 30, 2025, amounted to US$21.34 million, a 21% increase relative to US$17.69 million reported in 2024.
Finance Costs for the nine months ended September 30, 2025, totalled US$12.71 million, a 4% decrease compared to US$12.20 million in 2024. For the third quarter, finance costs were US$4.79 million (2024: US$5.60 million).
Profit before Taxation amounted to US$9.09 million, a 52% increase from US$6.00 million in the corresponding period last year. Taxation for the nine months ended September 30, 2025, was US$3.74 million, a 35% decrease relative to US$2.77 million in 2024. For the third quarter, taxation was US$289,000 (2024: US$1.08 million).
Net profit attributable to shareholders for the nine months ended September 30, 2025, increased by 68% to US$5.27 million (2024: US$3.13 million). Total comprehensive income for the nine months amounted to US$6.17 million, a 125% increase from US$2.74 million reported in 2024. For the third quarter, total comprehensive income was US$854,000 (2024: US$780,000).
Consequently, Earnings Per Share for the nine months amounted to US$0.028 (2024: EPS: $0.017), while Earnings Per Share for the quarter totaled US$0.00405 (2024: EPS: US$0.00412). The twelve-month trailing EPS was US$0.052 and the number of shares used in these calculations was 186,213,523.
Notably, PBS’s stock price closed the trading period on November 14, 2025 at a price of US $0.74 with a corresponding P/E ratio of 14.33x.
Balance Sheet Highlights
The company’s assets totaled US$382.86 million (2024: US$415.18 million). The movement in total assets was mainly influenced by a 15% decrease in Trade and other receivables amounting to US$100.67 million (2024: US$ 118.01 million) and a 38% decline in Cash and cash equivalents amounting to US$19.02 million (2024: US$ 30.70 million).
Shareholders’ equity was US$80.36 million (2024: US$77.96 million), representing a book value per share of US$0.42 (2024: US$0.43).
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