En­deav­our Hold­ings Ltd has re­port­ed af­ter-tax prof­its for the three months end­ed Ju­ly 31, 2024, of $11.3 mil­lion, an in­crease of $0.2 mil­lion when com­pared to the prof­it af­ter tax of $11.1 mil­lion in Ju­ly 2023.

In its fi­nan­cials, which were post­ed on the T&T Stock Ex­change, En­deav­our Hold­ings chair­man John Aboud al­so not­ed that rev­enue from con­tracts with cus­tomers rose by $0.2 mil­lion, from $22.2 mil­lion in Ju­ly 2023 to $22.4 mil­lion in Ju­ly 2024.

That in­crease, Aboud said, was dri­ven by high­er rental in­come due to new ten­ants at Price Plaza and Bri­ar Place.

He fur­ther not­ed that rental ex­pens­es de­creased by $81,000 from $6.3 mil­lion in Ju­ly 2023 to $6.2 mil­lion in Ju­ly 2024, pri­mar­i­ly due to re­duced re­pairs and main­te­nance ex­pens­es.

“Ad­min­is­tra­tive fees ex­pe­ri­enced a de­crease mar­gin­al­ly by $36,000, from $912,000 in Ju­ly 2023 to $876,000 in Ju­ly 2024.

“Op­er­at­ing ex­pens­es in­creased by $391,000 mov­ing from neg­a­tive $100,000 in Ju­ly 2023 to $291,000 in 2024, main­ly due to the re­ver­sal of bad debt pro­vi­sion in 2023,” Aboud added.

Re­gard­ing tax­a­tion, he said the com­pa­ny ben­e­fit­ed from a ze­ro per cent cor­po­ra­tion tax rate, busi­ness levy, and green fund levy, due to amend­ments un­der the Fi­nance Act 2020 grant­ed to list­ed SMEs.

Tax­es record­ed in 2023 are those of the sub­sidiary com­pa­ny which was amal­ga­mat­ed with En­deav­our Hold­ings Ltd on Jan­u­ary 31, 2024, he stat­ed. The com­pa­ny paid $450,955 in de­ferred tax­a­tion in its first quar­ter.

In­vest­ment prop­er­ties Aboud said in­creased by $3.6 mil­lion as of Ju­ly 2024 due to a fair val­ue write-up of $3.3 mil­lion at year-end and net of build­ing im­prove­ments at Price Plaza amount­ing to $0.3 mil­lion.

“This brought the to­tal from $908.2 mil­lion in Ju­ly 2023 to $911.8 mil­lion in Ju­ly 2024,” he said.

He fur­ther not­ed that trade and oth­er re­ceiv­ables in­creased by $5.8 mil­lion due to high­er trade re­ceiv­ables from two ten­ants, which were col­lect­ed in ear­ly Au­gust 2024.

Al­so, Aboud said cash and cash equiv­a­lents de­creased by $16.5mil­lion, ow­ing to the fi­nal div­i­dend for year-end­ed April 30, 2024, paid in Ju­ly 2024.