INOVEST announced its financial results for the first three months of 2026, showing a consolidated net profit attributable to the parent shareholders of $331,000 in comparison to a net loss attributable to the parent shareholders of $1.263 million for the same quarter of last year.
Accordingly, the basic earnings per share for the first quarter of 2026 increased to 0.11 cents as compared to a loss per share of 0.42 cents for the same period in 2025.
The change is primarily due to the group’s focus on core and investment activities, exit from non-strategic sectors, as well as tight control over expenditure.
The net operating profit stood at $473,000 in the first quarter of this year in comparison to a loss of $1.530m for the first quarter of 2025.
The consolidated operating income increased by 206pc to $1.992m in comparison to $652,000.
Whilst the group’s operating expenses decreased by 30pc, standing at $1.519m in the first quarter of 2026 in comparison to $2.182m for the same period of 2025.
In regard to the group’s key balance sheet indicators, the equity attributable to parent shareholders stood at $118.198m in comparison to $117.5m at the end of 2025.
Within the same period, Inovest reported a slight increase in consolidated total assets which stood at $215.649m in comparison to $215.002m at the end of 2025.
On the liquidity front, Inovest’s cash and bank balances stood at 4pc of the total consolidated assets, in comparison to 5pc last year. To that end, the cash and bank balances stood at $9.043m, in comparison to $10.468m as at the year end, representing a 14pc decline resulting from the normal working capital requirements.
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