Eppley Caribbean Property Fund Limited Records Drop in Net Profit

• For the year ended September 30, 2020, Eppley Caribbean Property Fund reported a 50.9% (or BD$1.96Mn) year over year decline to BD$1.89Mn (EPS: $0.02) in audited net profit attributable to shareholders of its Value Fund.
• The result was driven by a BD$2.53Mn share of loss of investments accounted for using the equity method which compares to a share of profit of BD$2.95 reported in 2019.
• This outweighed the 68.9% (BD$1.39Mn) rise in fair value gains on investment property, 63.6% (BD$1.14Mn) increase in net rental income, and 18.6% (BD$0.58Mn) drop in operating expenditure.
• The company’s stock price has increased by 0.6% since the start of the year, closing Tuesday’s trading session at $43.43. At this price, the stock currently trades at a P/E of 30.6x earnings, which is above the Main Market Real Estate Sector Average of 18.0x.

(Source: CPFV Financials)