Guardian Holdings reports 229% profit increase

GUARDIAN Holdings Ltd (GHL) has announced a 229 per cent or $536 million increase in profits for the three months ended March 31, 2025.

In its consolidated financial statements published on the TT Stock Exchange website on May 2, GHL said the unaudited profit attributable to equity shareholders for the quarter was $770 million, exceeding the previous comparable period's results of $234 million.

GHL said the increase was mainly attributed to a $651 million gain as a result of the sale of 100 per cent shares of Thoma Exploitatie BV on January 24.

The group recorded unaudited profit attributable to equity shareholders on continuing operations of $120 million, lower than last year’s results of $227 million by $107 million or 47 per cent.

GHL said import tariff changes announced by the US government on an already volatile investment market impacted its first quarter’s performance, resulting in a year-over-year reduction in net fair value gains of $101 million or 68 per cent.

Robert Almeida in his chairman's report said although the quarter’s results from continuing operations were below expectations, the underlying fundamentals of the group remain strong.

"Our focus remains firmly on sustainable, long-term value creation supported by operational efficiencies, disciplined cost management and favourable market dynamics.

"We expect upcoming quarters to better reflect the underlying strength of our group.

Almeida highlighted that the group's core insurance operations remain robust, as the quarter’s insurance service results were consistent with last year's performance.

Insurance revenues for the quarter were $1,480 million, an increase of five per cent or $68 million.

The Life, Health and Pension (LHP) segment recorded $734 million in revenue, while the Property and Casualty (P&C) segment rose to $746 million.

Based on the group performance, Almeida said GHL remains sufficiently capitalised and compliant with regulatory ratios.

The group’s equity/book value per share increased from $17 to $23.26.

Earnings per share increased from $1.01 to $3.32 and return on equity decreased slightly from 24 per cent to 23 per cent.

Almeida said the group's balance sheet metrics remain strong and it continues to create value for shareholders in the current operating environment.

"A key focus is to increase the organisation’s generation of free cash flow per share, which is essential to enabling resilience and sustainable growth," he added.

Commencing this quarter, the group will move from bi-annual to quarterly dividend payments.

"This reinforces our commitment to regularly returning capital to shareholders and frequently rewarding investors with a sustainable source of cash flows," Almeida said.

GHL's inaugural quarterly dividend is proposed at 21 cents per share payable June 11.