August 17, 2026

Woodcats International Limited (WOODCATS)
Unaudited financials for the six months ended June 30, 2026:

Woodcats International Limited (WOODCATS) for the six months ended June 30, 2026, reported a 20% decrease in revenue totalling $465.70 million compared to $581.14 million in the corresponding period last year, reflecting lower production volumes among manufacturers and other key customers amid an economic slowdown, weaker exports, and the lagged impact of Hurricane Melissa. Revenue for the second quarter had a 31% decrease to close at $223.82 million compared to $325.80 million for the comparable quarter of 2025.

Year to date, Cost of Sales amounted to $304.30 million (2025: $392.58 million), this represents a decrease of 22% year over year. Consequently, gross profit decreased by 14% to $161.40 million compared to $188.56 million for the first half of 2025. The company booked gross profit of $68.72 million for the second quarter versus $101.18 million reported for the similar quarter of 2025, with the gross margin holding broadly stable at 30.70%.

Year to date, administrative expenses decreased by 6%, to $118.57 million (2025: $125.60 million), as management contained costs against lower sales. As a result, operating profit for the six months amounted to $43.35 million, a 35% decrease relative to $66.62 million reported in 2025. Net finance costs totalled $9.76 million, a 36% decrease from $15.35 million in the corresponding period last year, as the company reduced debt and cleared its bank overdraft.

Profit before Taxation for the six months ended June 30, 2026, amounted to $33.59 million, a 34% decrease relative to $51.28 million reported in 2025. Profit before Taxation for the second quarter amounted to $14.52 million (2025: $29.18 million).

The tax charge incurred for the six months amounted to $8.40 million (2025: $12.82 million). As a result, Net Profit for the six months amounted to $25.19 million, a 34% decrease from the $38.46 million reported in 2025. For the second quarter, Net Profit was $10.89 million (2025: $21.88 million).

Consequently, Earnings Per Share for the six months amounted to $0.011 (2025: EPS: $0.024), while Earnings Per Share for the quarter totalled $0.005 (2025: EPS: $0.014); these are not directly comparable year-over-year given the higher share count following the March 2026 IPO. The twelve-month trailing EPS was $0.04 and the number of shares used in these calculations was 2,384,607,769. Notably, WOODCATS’ stock price closed the trading period on August 14, 2026 at a price of $0.60 with a corresponding P/E ratio of 14.54x.

Balance Sheet Highlights

The company’s assets totalled $1.26 billion (2025: $863.11 million). The movement in total assets was primarily attributable to a 97% increase in ‘Inventories’ amounting to $362.70 million (2025: $184.31 million) and an expansion of cash balances to $172.99 million following the receipt of IPO proceeds, together with a sharp rise in ‘Due from related parties’ to $227.14 million (2025: $15.65 million). These movements were partially offset by a 35% decline in ‘Receivables and prepayments’ amounting to $144.51 million (2025: $223.64 million) and a reduction in non-current assets to $351.61 million on lower investments.

Shareholders’ equity was $1.03 billion (2025: $578.58 million), representing a book value per share of $0.43 (2025: $0.36).

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