Bryden and Sons Holdings Ltd reported a whopping $139.8 million in profits for the year ending December 2023, surpassing the $69.6 million earned in the previous year. CEO Richard Pandohie revealed this exciting news during the company’s virtual annual general meeting.
These impressive results were attributed to the acquisition of Seprod Ltd in June 2022, where the financial performance for that year was partial. In contrast, the 2023 results represented the company’s full-year performance. According to Price Waterhouse Cooper (PWC), the financial report for 2022 included results from May 9 to December 31.
The company generated $2.5 billion in revenue for 2023, a significant increase from $1.2 billion in the previous year. After direct expenses, Bryden and Sons Holdings Ltd reported a gross profit of $664.9 million, compared to $357.9 million. The operating profit also saw a substantial rise to $219.6 million in 2023, up from $106.4 million in 2022. After factoring in finance costs, the company recorded a profit before tax of $165.7 million, nearly doubling the $84.1 million earned in 2022.
Overall, these financial results showcase the remarkable growth and success of Bryden and Sons Holdings Ltd, setting a positive trajectory for its future endeavors.
