Cecil Foster Chief Executive Officer for FosRich Company Limited has released the following the unaudited results of FosRich for the three months ended 31 March 2025 and to report on the performance of FosRich.

Financial Highlights
• Revenues – $852.9 million compared to $859.8 million in the prior period.
• Gross profit – $305.6 million compared to $389.5 million in the prior period.
• Net (loss)/profit – ($68.6) million, compared to $33.0 million in the prior period.
• Earnings per stock unit – (-1) cent compared to 1 cent in the prior period.

Business Overview
FosRich is primarily a distributor of electrical, lighting, and solar energy products. FosRich aims to differentiate itself from its competitors in the Jamaican marketplace by providing a quality and cost effective service, and by collaborating with clients on technical solutions. FosRich partners with large global brands seeking local distribution such as Huawei, Philips Lighting, Victron Energy, Siemens, NEXANS and General Electric. FosRich has a staff complement of two hundred and forty (240) people across ten (10) locations in Kingston, Clarendon, Mandeville, and Montego Bay. FosRich also has a team of energy and electrical engineers who offer technical advice and install solar energy systems, solar water heaters and electrical panel boards.

Our current-quarter numbers continue to be affected by the substantial fall in PVC and solar panel cost on the world markets. What this meant for us, is that despite achieving higher sales volumes, because our price reductions are passed on to our customers, we have achieved lower total sales income on these important lines of business. In addition, we were also affected by the slowness in housing-starts locally, caused primarily by the considerable increase in interest rates in Jamaica in the current period when compared to the prior period. We have not yet begun to benefit from the recent reductions in interest rates.

More importantly, our current quarter was adversely affected by international problems in the shipping industry, that continue to be affected by developments related to the operation of the Panama Canal. This resulted in significant delays in shipment for both finished goods and raw material. Raw material delays significantly interrupted our manufacturing operation during the quarter, which limited our ability to keep the market supplied with these needed products.

With the recent developments in the USA market, our global partners, in seeking to broaden and deepen their relationships with their non-USA customers, have offered more favourable credit terms to us, which should provide measurable benefits, going forward.

Income Statement

Income
The company generated income for the first quarter of $852.9 million compared to $859.8 million in the prior reporting period. Gross profit for the first quarter of 2025 was $305.6 million compared to $389.5 million for the prior reporting period. The main revenue drivers were Electrical and Hardware lines of business.

Administration Expenses
Administration expenses for the year-to-date was $337.4 million, reflecting a 12% increase on March 2024’s $301.6. The increased costs were fuelled primarily by increased staff related costs for increased staffing, increased travelling and motor vehicle expenses, increased insurance costs due to increases both in policy renewal rates and exposure, increased security cost due to additional locations and increased depreciation due to additional fixed assets.

Finance Cost
Finance cost for the year-to-date was $44.2 million compared to $$55.7 million in the prior period.

Net Loss
The operating loss generated for the period was $68.6 million, compared to the profit of $32.9 million reported for the prior reporting period resulting in loss per stock unit of $0.01 compared to a profit per stock unit of $0.01 at March 2024

Balance Sheet

Inventories
Since the start of the year, there has been some run-off of inventories, primarily due to the shipping issues discussed above. The company continues to proactively manage inventory balances and the supply-chain, with a view to ensuring that inventory balances being carried are optimised, relative to the pace of sales, the time between the orders being made and when goods become available for sale, to avoid both overstocking and stock-outs. Monitoring is both at the individual product level and by product categories.

Receivables
We continue to actively manage trade receivables with an emphasis being placed on balances in the over 180-day bucket. We have implemented strategies to collect these funds as well as to ensure that the other buckets are managed. We have re-evaluated all credit relationships. Where necessary, credit limits have been reduced and credit periods shortened. For some inventory items, we have instituted seven (7) day credit or cash. Sixty-four (64%) of receivables are within the current to 60-day category, mirroring December 2024. Receivables also include advance payments made to foreign suppliers for the increasing levels of inventories required to support our sales strategy.

Trade Payables
Our trade payables are categorised by foreign purchases, local purchases and other goods and services. While we have concentrated primarily on the foreign payables, as the bulk of our inventories are sourced from overseas. we continue to manage payables, for the most part, within the terms given by our suppliers.

Non-current Liabilities
Non-current liabilities have reduced by $101 million due to the run-off and maturing of facilities. Liquidity At balance sheet date the excess of current assets over current liabilities amounted to $843 million (31 December 2024 – $1,012 million), with the current ratio being 1.36:1 compared to 1.43:1 in December 2024. It is expected that FosRich will continue to be able to generate sufficient cash to meet obligations when they fall due.

Shareholders’ Equity
Shareholders’ equity now stands at $1,930 million, compared to $1,999 million on 31 December 2024. On 31st March 2025 there were 5,266 shareholders, compared to the 5,318 on 31 December 2024.

Other Matters

• New Activities Construction of our new FosRich Superstore & Corporate Offices at 76 Molynes Road is advanced, with completion date now projected to be Q3, 2025
• We have halted our plans to enter the United States market, until further notice.
• We continue to implement the specific strategies as outlined within our strategic plan, with a view to making the group more vertically integrated.
• We are cognizant that despite the challenges ahead within our local operating space and the wider global space, we have the right talents and leadership to deliver on our plans for the ensuing period. We will continue to execute our plans to ensure that we remain competitive and deliver value solutions to our customers.

As we report on the performance of FosRich, we thank our shareholders, employees, customers, and other stakeholders for their support as we continue to expand our business and bring greater value to our various stakeholders.

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Gia Abraham Chief Executive Officer for CAC 2000 Ltd. Has Released The Following Interim Financial Highlights For The Six Months Ended April 30, 2025

The first half of FY2025 has been a period of strategic recalibration and operational discipline for CAC 2000 Ltd. While the company remains in a year-to-date loss position of J$56.1M, we are encouraged by the return to profitability in Q2, where we recorded a net profit of J$2.5M. This turnaround from the Q1 loss of J$58.5M reflects the early impact of our cost containment efforts and renewed focus on execution.

Rather than viewing the current environment as a setback, we see it as a proving ground — one that has sharpened our priorities, strengthened our leadership, and positioned us to emerge more agile and focused.

Key Financial Highlights
Revenue and gross profit remained relatively stable, reflecting the resilience of our core business lines despite tighter liquidity and project delays. This consistency provides a strong platform for growth as we continue to streamline operations and improve margins.

Balance Sheet Position
Our balance sheet remains healthy, with a more than doubling of cash reserves and a growing equity base – a testament to prudent financial management and strategic capital allocation.

Cash Flow Analysis
We have made meaningful progress in cashflow management, reducing operating cash outflows by more than 50% and improving our net cash position by over J$56M year-over year.

Strategic Progress
• Q2 Turnaround as a Signal of Stability: Our Q2 profit demonstrates that the business is stabilizing and that our strategic actions are beginning to yield results.
• Liquidity and Balance Sheet Strength: We’ve more than doubled our cash position, giving us the flexibility to manage short-term obligations while investing in long-term growth.
• Leadership and Governance Enhancements: We are excited to welcome two new directors to our board, whose experience and insights will be instrumental in guiding our next phase of growth. • Clear, Focused Strategy: We are laser-focused on improving cash conversion cycles and enhancing margin performance through disciplined execution.
• Forward -Looking Confidence: We are confident that the foundation laid in the first half of the year positions us to deliver stronger results in the months ahead. • Operational Focus: We remain committed to improving receivables collection, optimizing inventory, and maintaining lean, efficient operations.

Outlook
While challenges remain, our Q2 performance demonstrates that CAC 2000 is moving in the right direction. With a sharpened strategy, a strengthened leadership team, and a renewed sense of purpose, we are confident in our ability to build on this momentum and deliver long-term value to our shareholders and stakeholders.

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Gordon Swaby Chief Executive Officer of EduFocal Group (“LEARN”) has released the following unaudited condensed consolidated financial statements for the first quarter ended March 31, 2025.

For the three months ended March 31, 2025, the Group generated revenue of $29.97 million, which remained relatively flat compared to the $30.01 million earned in Q1 2024. This consistency aligns with the Group’s strategic shift toward more predictable recurring revenue streams. Notably, the team has continued to invest heavily in Amigo, a new initiative designed to drive scalable recurring income through a modernized business model.

Operating profit for the first quarter of 2025 amounted to $5.61 million, compared to an operating loss of $12.59 million in Q1 2024. This performance is largely attributed to effective cost-containment strategies and the streamlining of operations.

Administrative expenses totalled $12.88 million, a 62% reduction from the $34.16 million recorded in the prior year’s corresponding period. This drop is aligned with the Group’s internal restructuring and cost-efficiency initiatives.

The Group reported a net loss of $1.34 million, significantly narrowed compared to $20.87 million in Q1 2024. The reduction in losses was achieved despite finance costs of $6.95 million, which continue to weigh on performance.

Amigo, in particular, is extremely important to our future, and we have invested heavily in its development. Early feedback from potential customers about Amigo has been extremely positive, and we anticipate immediate opportunities to leverage this software beyond Jamaica. This investment underscores our commitment to driving top and bottom-line growth through innovative educational solutions.

Performance of Divisions

The Learn division continues to concentrate on the expansion of its market presence globally, aligning with the Group’s strategic objectives for growth and market penetration. With the closure of Academy and the acquisition of Clever School Teacher (CST), EduFocal Nigeria and EduFocal Africa, the division remains committed to widening the group’s footprint in these territories.

The Group is confident in its strategic plan to revitalize its financial outcomes. The Management team is actively addressing these challenges, to mitigate any further associated risks, which will in turn steer the division to sustained growth and profitability.

While the Group continues to operate at a net loss, the significant improvements in EBITDA, cost control, and operating margins are promising indicators of recovery. The management team remains confident in its strategic plan to return to profitability, emphasizing disciplined execution, increased software adoption, and regional expansion.

Financial Position

As at March 31, 2025, total assets stood at $235.41 million, an increase from $228.68 million as at March 31, 2024. The increase reflects stronger receivables and the continued capitalization of software development costs.

The Group’s non-current assets totalled $163.74 million, primarily comprising intangible assets of $162.77 million and property, plant and equipment of $968,765. Current assets amounted to $71.68 million, with receivables and prepayments of $34 million, a director’s account of $36.76 million, and cash of $914,348.

However, the Group continues to operate with a capital deficiency, with shareholders’ equity showing a deficit of $134.85 million, driven by accumulated losses of $314.16 million. Long-term borrowings stood at $153.49 million, while current liabilities totalled $216.78 million, largely due to accounts payable of $127.69 million and the current portion of long-term loans amounting to $90.36 million.

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Alexander Melville Chief Executive Officer Tropical Battery Company Limited (TROPICAL) has released the following Interim Financial Statements For The Second Quarter Ended March 31, 2025

The second quarter of FY2025 represents a defining chapter in Tropical Battery’s transformation into a multi-market, diversified energy solutions group. With operations spanning Jamaica, the Dominican Republic, and the United States, and products shipping to over 35 countries, we continue to scale a resilient and future-facing platform that aligns with global megatrends in energy storage, electrification, renewable energy, and mobility. We have delivered solid operating results while executing key elements of our long-term strategic plan, against a favourable macroeconomic backdrop, marked by stabilising inflation, a return to growth-oriented monetary policy, and strong investor appetite for energy transition assets.

We continue to benefit from diversified revenue streams and scalable infrastructure. Rose Batteries (USA), Kaya Energy (Dominican Republic and Jamaica), and Tropical Mobility are now fully integrated and operationally aligned. These businesses give us direct exposure to energy storage systems, solar EPC services, and electric vehicle supply chains—markets projected to grow at 20%+ CAGR over the next decade (Straits Research, 2024; IEA, 2024).

Our U.S. operations provide access to the world’s largest energy storage market. At the same time, the Dominican Republic, six times the size of Jamaica by GDP, offers a rapidly expanding base of commercial and industrial customers. These strategic positions allow us to scale quickly while limiting overexposure to any single geography.

The second quarter of FY2025 demonstrated a resilient financial performance across Tropical Battery Group, with key metrics reflecting operational discipline and improved commercial execution. Gross operating revenue totalled J$1.63 billion, representing a 5.1% year-over-year increase compared to the J$1.55 billion posted in Q2 FY2024. On a year-to-date basis, revenue rose 34%, underscoring the strength of our core battery and energy businesses, alongside the contributions from new and recently integrated subsidiaries.

A key highlight for the quarter was the continued improvement in gross profit margins, which rose to 34.8%, up from 30.9% in Q1 FY2025 and 31.5% in Q2 FY2024. This reflects the successful implementation of strategic pricing actions, supplier cost recovery, and process corrections initiated in late Q1. These efforts helped to fully offset the impact of increased input costs and restored margins to target levels. Gross profit for the period stood at J$567 million, a 15.9% improvement over the prior year.

Operating expenses increased to J$428 million, compared to J$305 million in Q2 FY2024, reflecting one-time APO marketing expenses, investments in new talent management to help grow revenue in the United States, the continued expansion of group operations and the complete consolidation of Rose Batteries and Kaya Energy Group. These investments in integration, staffing, and infrastructure are essential for scaling our platforms in the U.S., Dominican Republic, and Jamaica, and are expected to yield further efficiencies in subsequent quarters.

Finance costs rose to J$132 million, a 30% year-over-year increase, driven by the full-quarter impact of the bridge loan facility used to acquire Rose Batteries. This was partially offset by J$26 million in finance income, which brought total net finance costs to J$106 million. As a result, while operating profitability remained substantial, bottom-line profit for the quarter was modest, with net profit of J$2.78 million. Nonetheless, this marks a significant turnaround from the Q1 net loss of J$96.2 million, validating the underlying health of the business and the one-off nature of prior period adjustments.

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Solomon Sharpe Chief Executive Officer For Main Event Entertainment Group Limited Has Released The Following Unaudited Results For Six Months Ended April 30, 2025

The second quarter of the financial year unfolded within a still recovering economic environment. Jamaica experienced two consecutive quarters of economic contraction prior to this period, with the latest data from the Planning Institute of Jamaica (PIOJ) indicating a return to modest growth.

As a business closely tied to consumer activity and discretionary spending, MEEG’s performance is inevitably influenced by prevailing economic conditions. In times of reduced disposable income, demand for entertainment, events, and promotional services often comes under pressure. This context has framed many of the challenges and opportunities we faced during the quarter.

The company generated revenue of $306.368 million for the second quarter ended April 30, 2025. This represents a decline of $112.207 million or 27% compared to the second quarter of 2024. For the half-year, the company earned revenue of $891.395 million, reflecting a reduction of $94.932 million or 10% relative to the corresponding period last year. This contraction in revenue is primarily attributable to continued softness in core event categories, most notably Entertainment & Promotions and M-Style Decor. Performance was impacted by a combination of lower client marketing spend, fewer large-scale productions, and the nonrecurrence of several high-value projects that contributed materially to the prior year’s second quarter. Despite the general slowdown, the period saw several new and re-engaged clients contribute positively to revenue performance.

As part of its long-term strategy to reduce revenue volatility and deepen brand equity, the company has begun investing in its proprietary events. The performance of these initiatives is expected to materialise in the upcoming quarters.

Gross profit for the quarter was $165.818 million, compared to $198.064 million in the second quarter of 2024 — a decline of $32.246 million or 16%. Gross profit for the six months amounted to $467.485 million, down $46.402 million or 9% relative to the same period last year.

The company’s gross margin remained relatively stable at 54% for the quarter, a slight improvement from the 53% reported in the prior year. This increase reflects stronger project cost control and enhancements in resource planning, even amidst a softer revenue performance.

The company recorded a net loss of $9.337 million for the quarter, compared to a net profit of $20.016 million in Q2 2024. For the six-month period, net profit stood at $64.329 million, a decrease of $55.942 million or 47% from the $120.271 million earned in the comparative period. This swing was primarily driven by the reduction in revenue and other operating income, which was not fully offset by cost reductions.

Administrative and general expenses for the quarter totalled $143.244 million, an increase of $15.757 million or 12% compared to $127.487 million in the prior year.

Selling and promotional expenses also rose to $7.177 million, up 62% year over year, driven by increased brand-building efforts.

Depreciation expense declined by approximately $6.718 million or 20% compared to the prior quarter and by $9.764 million year-over-year, reflecting the completion of previous capital cycles. Conversely, amortisation charges increased, largely due to the refinancing of existing leases and the addition of new ones. These movements are aligned with the company’s strategy to invest in equipment and assets that enhance operational capacity and service delivery.

Total operating expenses for the quarter were $186.794 million, compared to $178.886 million in Q2 2024, an increase of 4%. On a year-to-date basis, total operating expenses amounted to $405.514 million, up $20.279 million or 5% over the $385.235 million recorded in the prior year.

Finance costs were marginally higher at $2.959 million, while taxation for the quarter reflected a credit of $1.876 million, corresponding to the pre-tax loss position.

The company reported a loss per share of $0.03 for the second quarter, compared to earnings per share of $0.07 in the prior year. For the six-month period, EPS was $0.21, down from $0.40 in 2024.
As at April 30, 2025, total assets stood at $1,219.275 million, broadly in line with $1,219.929 million recorded at the end of the second quarter of 2024.

Cash and bank balances amounted to $141.700 million, with short-term deposits increasing to $252.598 million, together reflecting a stable liquidity position.

Receivables closed at $299.718 million, slightly below the $309.556 million reported in the prior year.

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