Secure Logistics delivers consistent performance in Q1 2025

MG News | May 05, 2025 at 03:32 PM GMT+05:00

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May 05, 2025 (MLN): Secure Logistics Group Limited's (PSX: SLGL) net profit remained nearly flat at Rs160.22 million [EPS: Rs0.59] during the quarter ended March 31, 2025, marking a slight increase of 0.97% compared to Rs158.68m [EPS: Rs0.58] in the same period last year (SPLY).

According to the company’s financials, the revenue dropped 17.9% YoY to Rs530.12m in Q1 2025, down from Rs645.73m in SPLY.

Despite the decline in top-line performance, the company managed to soften the blow through a steeper 22.85% YoY reduction in cost of services, which fell from Rs347.48m to Rs268.07m.

As a result, gross profit declined 12.14% YoY to Rs262.05m from Rs298.25m in SPLY.

Administrative expenses were trimmed by 3.43% YoY, falling to Rs66.05m from Rs68.40m last year.

Meanwhile, finance costs saw a significant reduction of 64.54% YoY, dropping to Rs16.84m from Rs47.5m, reflecting lower borrowing costs or improved debt management.

However, the company reported no other income this quarter, compared to Rs2.15m in the same quarter of the previous year.

On the tax front, the company’s tax expense declined 26.70% YoY to Rs18.93m from Rs25.83m in SPLY.

Condensed Interim Consolidated Statement of Profit or Loss for the Period Ended March 31, 2025
Note	Mar-25	Mar-24	%Change
Revenue - net	530,119,103	645,731,999	-17.90%
Cost of services	(268,070,934)	(347,477,301)	-22.85%
Gross profit	262,048,169	298,254,697	-12.14%
Administrative expenses	(66,051,771)	(68,397,455)	-3.43%
Operating profit for the year	195,996,398	229,857,242	-14.73%
Finance costs	(16,842,065)	(47,498,175)	-64.54%
Expected credit losses	-	-
Other income	-	2,154,124
Profit for the year before levies and income tax	179,154,332	184,513,191	-2.90%
Levies	-	-
Profit for the year before income tax	179,154,332	184,513,191	-2.90%
Taxation	(18,934,077)	(25,829,810)	-26.70%
Profit for the year after taxation	160,220,255	158,683,911	0.97%
Basic and diluted earnings per share	0.59	0.58	1.72%

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