Cave Shepherd & Co. Limited reported profit attributable to equity holders of $17.5 million for the year ended December 31, 2025, up 15 % from $15.1 million in 2024, reflecting another year of solid performance across the Group. Earnings per share (EPS) increased to $0.94 from $0.81 in 2024.
The Group also reported improved profitability from its continuing operations, with profit before taxation from continuing operations of $20.6 million in 2025 compared with $18.7 million in 2024, and more than double the $10.0 million delivered in 2021.
The Group’s audited results demonstrate resilient operating momentum, disciplined management, and consistent performance across its portfolio. Chairman Sir Geoffrey Cave noted in the Directors’ report that “the Board remains focused on sustaining profitability while investing in growth, technology and operational enhancements across the Group”. Management noted that the 2025 performance was underpinned by strong and consistent results from the Group’s core financial services companies and associates, including Payce Digital, Fortress, SigniaGlobe Financial and DGM. The Group also reported improved contributions from its non-financial businesses Ganzee and pickUp Taxi and its joint ventures and financial investments, all of which supported broad-based earnings growth.
Cave Shepherd highlighted the strength of its long-term record of delivering shareholder returns, with EPS increasing from $0.43 in 2021 to $0.94 in 2025, and dividends declared rising from $3.3 million in 2021 to $7.1 million in 2025, representing more than a doubling over the period. The Company’s financial position remains strong, supported by total equity of $120.2 million, solid working capital of $101.5 million and a return on average equity of 15.4 %.
Subsequent to the year end, the Company finalized the completion of a strategic acquisition involving the amalgamation of a new Cave Shepherd subsidiary with Store All entities to form Store All Inc., which owns and operates a leading self-storage business in Barbados. Cave Shepherd’s net equity investment amounted to $8 million for an 80% share of the business, positioning the new subsidiary for continued growth and development in the years ahead.
🔗 Read more in our FY2025 Annual Report.
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