Andrew Mahfood Chief Executive Officer Wisynco Group Limited has released the follwoing unaudited financial results for the third quarter ended 31 March 2026, which have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting. 3 of 12
Revenues for the quarter of $15.5 billion represent an increase of 12.6% above $13.7 billion achieved in the corresponding quarter of the previous year. Notwithstanding the temporary closure of many of the Hotels and restaurants due to the Melissa impact, the quarter started off meeting expectations in January 2026 however, the unseasonably cold and wet weather in February impacted the quarter negatively and our Q3 Revenue fell below expectations. Export revenues have been growing, and on a year-to-date (YTD) basis are up 34.7%. We continue to focus on revenue growth in export markets.
Gross Profits of $4.9 billion were 8.4% greater than the $4.5 billion earned in prior year and Gross Margin at 31.6% was 120 basis points (bps) lower than the 32.8% for the same quarter last year. The decline in Gross Margin compared to the prior year is attributed primarily to the lower absorption of greater fixed costs related to production especially in the month of February.
Selling, Distribution & Administrative expenses (SD&A) for the quarter totaled $4.0 billion or 16.1% more than the $3.5 billion for the corresponding quarter of the prior year. Our SD&A expense to sales ratio was 26.0% for the quarter, compared to 25.2% in the prior year or 80 bps greater. The increase was primarily attributable to higher marketing and operating expenses related to investments in the innovation of new brands/products as well as lower revenues in February as stated above.
Additionally, finance costs increased due to additional debt resulting from the optimization of our capital structure as well as the revaluation of the Jamaican dollar to its US dollar counterpart resulting in a loss on exchange on the revaluation of our US Dollar balances.
Profit before Taxation for the quarter was $791 million or 34.2% lower than the $1.2 billion of the comparative quarter for the prior year. On a YTD basis, through nine months of the financial year, the business has earned $3.6 billion in Net Profit after Taxes, 4.3% greater year over year. Due to greater non-cash related expenses vs last year, primarily depreciation $597 million in Q3 ($424 million 2025), stemming from the various plant expansions, our Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $6.6 billion YTD is up 18.3% year on year.
For the quarter, after provision for taxes, Wisynco recorded Net Profits Attributable to Stockholders of $646 million ($971 million for the comparable quarter of the prior year), or 17c per stock unit for the quarter compared to 26c per stock unit for the same quarter of fiscal 2025.
From a balance sheet perspective, the business ended the quarter with $10.8 billion of cash and investment securities and a strong working capital ratio of 2.6. We express our sincere gratitude to all our team members for their dedication and execution and are thankful to all our customers, consumers and stockholders.
WISYNCO GROUP LIMITED (WISYNCO) Interim Report For The Third Quarter Ended March 31, 2026
