August 3, 2026
WEST INDIES PETROLEUM TERMINAL LIMITED (WIPT)
Unaudited financials for the six months ended June 30, 2026
Expressed in United States dollars (except where indicated otherwise)
West Indies Petroleum Terminal Limited (WIPT) for the six months ended June 30, 2026, reported a 21% increase in Revenue totalling $5.05 million compared to $4.18 million in the corresponding period last year. Revenue for the second quarter rose 19% to close at $2.56 million compared to $2.15 million for the comparable quarter of 2025.
Other income amounted to $13,816 (2025: $91,072), representing a decrease of 85% year over year. Consequently, total revenue increased by 19% to $5.06 million compared to $4.27 million for the six months ended June 30, 2025. The company booked total revenue of $2.56 million for the second quarter versus $2.20 million reported for the similar quarter of 2025.
Management highlighted that performance in Q2 2026 was shaped by the significant global challenges arising from the USA/Iran conflict and the de facto closure of the Strait of Hormuz. Despite heightened volatility in international oil markets — with Brent crude prices spiking above $100 per barrel early in the quarter — WIPT delivered a strong and resilient performance. The revenue improvement was driven by increased third-party storage and throughput volumes, as well as rate increases on related party business. Third-party throughput revenues as a percentage of total revenue rose sharply from 5% in H1 2025 to 17% in H1 2026, while third-party storage fees climbed from 34% to 46% of revenues over the same period. Throughput volumes for the six months reached 1.29 mbbls, up from 0.83 mbbls in 2025, reflecting increased volumes processed on behalf of third parties including West Indies Petroleum Limited, WIP Energy Limited, and an international fuel supplier.
Operating and Administrative expenses increased by 5% to $2.51 million (2025: $2.38 million), while Net Impairment Loss on Financial Assets declined from $77,255 in 2025 to nil in the period under review. As a result, operating profit for the six months ended June 30, 2026, amounted to $2.56 million, a 41% increase relative to $1.81 million reported in 2025. Operating profit for the second quarter rose 41% from $870,000 in 2025 to $1.22 million in 2026.
Net Finance costs for the six months ended June 30, 2026, amounted to $433,504, a 6% decrease relative to $458,926 reported in 2025.
Profit before Taxation totalled $2.12 million, a 57% increase from the corresponding period last year (2025: $1.35 million).
Taxation charge for the six months ended June 30, 2026, amounted to $193,209, a 158% increase relative to $74,782 reported in 2025. As such, Net Profit for the six months ended June 30, 2026, increased by 51% to reach $1.93 million (2025: $1.28 million). For the second quarter, Net Profit amounted to $919,347, a 49% increase from $617,473 reported in 2025.
Consequently, Earnings Per Share for the six months amounted to US$0.00017 (2025: US$0.00011), while Earnings Per Share for the quarter totalled US$0.00008 (2025: US$0.00006). The twelve-month trailing EPS was US$0.0003 (J$0.044) and the number of shares used in these calculations was 11,180,372,000.
Notably, WIPT’s stock price closed on July 31, 2026, at J$9.00, with a corresponding P/E ratio of 204.78x.
Balance Sheet Highlights
The company’s total assets stood at $40.96 million (2025: $42.79 million), reflecting a year-over-year decrease of $1.83 million. The decline was primarily driven by a $1.34 million reduction in PP&E resulting from depreciation charges, a $0.43 million reduction in Right of Use Asset due to amortization, and the repayment of related party balances of $1.78 million — partially offset by improved cash balances of $1.66 million.
Total liabilities decreased by $4.93 million to $9.51 million (2025: $14.44 million), largely due to the settlement of related party balances of $4.09 million, reduction in lease liabilities, and repayment of borrowings.
Shareholders’ equity grew to $31.45 million (2025: $28.34 million), representing a book value per share of J$0.45 (2025: J$0.41).
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