CIC reports strong first quarter

Diversified conglomerate CIC Holdings PLC kicked off the first quarter of 2025 financial year (1Q25) with significant improvements in its earnings from the corresponding period of the previous year with topline growth seen in all business segments.

For the quarter ended 30 June, CIC Holdings reported revenue of Rs. 19.8 billion, a 16.03 percent growth Year-on-Year (YoY). Key contributors to the revenue were the group’s crop solutions segments, livestock solutions, and the health and personal care segment.

The crop solutions segment reported revenue of Rs. 8.39 billion compared to the Rs. 6.87 billion a year ago, while the livestock solutions and the health and personal care segment generated revenue of Rs. 4.26 billion and Rs. 4.21 billion.

The EBIT margins from agri produce and industrial solutions improved from 1Q24. While the EBIT margins of livestock and health and personal care remained somewhat unchanged, the crop solutions saw its margins drop in the quarter under review.

The group saw its net financing cost contract 48.2 percent YoY, and 28 percent from the previous quarter. CIC Holdings recorded Profit Before Tax (PBT) of Rs. 2.17 billion, a 22.9 percent growth YoY. The earnings attributable to shareholders expanded significantly by 140 percent YoY to Rs. 1.24 billion. As at 30 June 2024, Paints & General Industries Limited held 53.31 percent stake in CIC Holdings, while the Employees’ Provident Fund (EPF) had 9.06 percent stake.

The EPF also has a stake of 12.7 percent in the company’s nonvoting shares, as its single largest non-voting shareholder.