PRL Global (PRG) H2 2025 earnings summary

Executive summary

• Revenue from continuing operations rose 17% year-over-year to $1.48 billion, driven by strong logistics and fertiliser trading performance.

• Net profit after tax from continuing operations was $10.9 million, up 32% year-over-year, but total net profit attributable to members fell 50% to $10.89 million due to the prior year's discontinued operations.

• Major leadership transition: long-serving Managing Director Lai Ah Hong to retire, with Nick Gan appointed CEO, Jim Cooper as COO, and Adrian Gurgone as CFO.

• Significant acquisition underway: agreement to acquire Centrex Limited and its North Queensland phosphate mine, expected to close in September 2025.

• Special dividend of 5c per share paid following the sale of CKP, with a total of 10c per share in dividends for FY25 and a $4m share buyback executed.

Financial highlights

• Revenue from continuing operations: $1.48 billion (up 17% year-over-year).

• Net profit after tax from continuing operations: $10.9 million (up 32% year-over-year).

• Earnings per share from continuing operations: 9.51 cents (up from 5.83 cents in FY24).

• Final dividend declared: 2c per share, total dividends for the year 10c per share (including special dividend).

• Net cash at year-end: $66.6 million; total assets: $505.2 million; net assets: $249.1 million.

Outlook and guidance

• Christmas Island operations expected to rebound in FY26, with focus on improving volumes and efficiencies.

• Integration of the new Queensland phosphate operation and ramp-up to meet market demand planned.

• Fertiliser prices anticipated to remain stable with solid demand; Malaysian operations and logistics segment targeting further growth and margin improvement.

• Mining operations on Christmas Island expected to be viable through to 2034.