Earnings
Clarke Inc. Reports 2025 Fourth Quarter and Year End Results

CKI · Price
Executive Summary
- Clarke Inc. reported a material decline in net income to $13.0 M for FY 2025 versus $37.8 M in 2024, driven by lower fair‑value gains on investment properties and higher interest/accretion expenses.
- The company posted a loss per share of $0.03 for Q4 2025 (vs. earnings of $1.54 per share in Q4 2024) and a FY 2025 loss per share of $0.95 (vs. $2.71 in 2024).
- Book value per common share increased to $21.08, marginally above the market price of $20.93 at year‑end.
Key Details
- Net Income: FY 2025 – $13.0 M (down from $37.8 M in 2024).
- Fair‑Value Adjustments: +$14.9 M on investment properties in 2025 vs. +$34.0 M in 2024.
- Interest & Accretion Expense: Increased YoY despite lower floating rates, due to higher long‑term debt balances from construction financing.
- Comprehensive Income: $17.6 M for FY 2025 (down from $46.4 M in 2024).
- Book Value per Share: $21.08 at year‑end (up $1.23 YoY, +6.2%).
- Hotel & Rental Revenue: $71.9 M FY 2025 (flat QoQ; Q4 2025 = $16.7 M).
- Provision of Services Revenue: $9.6 M FY 2025 (up from $8.9 M in 2024).
- Other Income: $12.2 M FY 2025 vs. $39.7 M in 2024.
- Total Assets: $633.3 M (unchanged YoY).
- Total Liabilities: $346.9 M (up from $239.4 M in 2024).
- Long‑Term Financial Liabilities: $163.6 M (up from $74.5 M in 2024).
- Quarterly Highlights Q4 2025:
- Hotel & rental revenue stable at $16.7 M QoQ.
- Fair‑value gain of $29.9 M in 2024 was the primary factor behind the lower Q4 net income YoY.
- Other comprehensive loss of $1.5 M, driven by higher remeasurement loss on accrued pension benefit asset.
- Non‑IFRS Measures: Book value per share and Net Operating Income disclosed with cautionary statements.
Notable Quotes
(No direct quotes were provided in the release.)
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May 29, 2026 · 12:33