Olympia Capital Holdings reported a slight rise in half-year earnings to KSh 14.37 million, as strong performance at the operating level was sharply curtailed by a dramatic increase in finance costs.
- •The key driver in the period ended August 2025 was a more than six-fold rise in borrowing expenses, which significantly constrained the flow of earnings to shareholders.
- •Despite a 3.9% dip in revenue to KSh 266.77 million, profit from operations rose 6.1% to KSh 181.75 million, reflecting improved efficiency and cost control within core business units.
- •Controlling this funding pressure will determine the earnings trajectory into the full financial year.
Income Statement (YoY Comparison)
| Metric | HY25 (Aug 2025) | HY24 (Aug 2024) | YoY % |
|---|---|---|---|
| Revenue | 266.77 Mn | 277.56 Mn | ▼ -3.9% |
| Profit from Operations | 181.75 Mn | 171.31 Mn | ▲ +6.1% |
| Finance Costs | 29.14 Mn | 4.53 Mn | ▲ +543%* |
| Operating Profit | 21.23 Mn | 25.76 Mn | ▼ -17.6% |
| Profit Attributable | 14.37 Mn | 13.93 Mn | ▲ +3.2% |
| Earnings per Share | 0.36 | 0.35 | ▲ +2.9% |
*Increase in cost = negative earnings impact.
This operational progress was overshadowed by financing pressure. Finance costs surged to KSh 29.14 million from KSh 4.53 million, a 543% increase. Consequently, operating profit after finance charges fell 17.6% to KSh 21.23 million from KSh 25.76 million a year earlier.
The rise in finance costs is directly linked to higher short-term borrowings. Current borrowings increased 69.9% to KSh 90.78 million, contributing to a rise in current liabilities to KSh 286.38 million. Total assets stood at KSh 1.97 billion, while equity attributable increased to KSh 1.24 billion.
Balance Sheet (Compared to Feb 2025 Audited)
| Metric | Aug 2025 (HY25) | Feb 2025 (Audited) | Change % |
|---|---|---|---|
| Total Assets | 1.974 Bn | 1.918 Bn | ▲ +2.9% |
| Equity Attributable | 1.235 Bn | 1.092 Bn | ▲ +13.1% |
| Non-Controlling Interest | 452.95 Mn | 602.00 Mn | ▼ -24.8% |
| Current Assets | 302.80 Mn | 295.41 Mn | ▲ +2.5% |
| Inventories | 136.17 Mn | 128.73 Mn | ▲ +5.8% |
| Receivables | 85.70 Mn | 73.67 Mn | ▲ +16.3% |
| Current Liabilities | 286.38 Mn | 251.96 Mn | ▲ +13.7% |
| Borrowings (Current) | 90.78 Mn | 53.42 Mn | ▲ +69.9% |
The Board did not recommend an interim dividend. The key challenge ahead will be sustaining operating performance while managing the higher cost of capital.
