Kina Securities Limited

KSL.ASX

Financials

Diversified financial services provider in Papua New Guinea

Market Data

Price

$1.245

+0.0%
Market Cap

$365.0M

P/E Ratio

10.1x

EPS

$0.123

Div. Yield

7.54%

52-Week Change

-0.0%

Latest Earnings

Variation to Appendix 4E

31 March 2026

Kina Securities Limited has issued a variation to its FY25 audited financial statements following auditor discussions regarding capitalization treatment of AML/CTF and ERP projects. The adjustments resulted in a PGK6.1 million reduction in NPAT due to reclassification of capitalized intangible assets to operating expenses and fair value asset write-downs, though adjusted NPAT remains within previously stated range and underlying business performance is unchanged. Key points: Adjusted NPAT remains within range previously stated in FY25 result announcement of 27 February 2026; Underlying business performance unchanged despite accounting adjustments; No cash impact from the adjustments

Recent Announcements

7 Jul 2026 Guidance Neutral

KSL Market Guidance Announcement

Kina Securities Limited (KSL) has updated its earnings guidance for the full year 2026, forecasting NPAT of PGK132-138 million (15-20% increase from prior year's PGK114.6 million), driven by continued revenue growth partially offset by payment system interoperability delays, lower government security yields, FX margin pressure, and currency depreciation, though partially benefited by a reduction in corporate tax rate.

31 Mar 2026 Actual Results Neutral

Variation to Appendix 4E

Kina Securities Limited has issued a variation to its FY25 audited financial statements following auditor discussions regarding capitalization treatment of AML/CTF and ERP projects. The adjustments resulted in a PGK6.1 million reduction in NPAT due to reclassification of capitalized intangible assets to operating expenses and fair value asset write-downs, though adjusted NPAT remains within previously stated range and underlying business performance is unchanged. Key points: Adjusted NPAT remains within range previously stated in FY25 result announcement of 27 February 2026; Underlying business performance unchanged despite accounting adjustments; No cash impact from the adjustments

27 Feb 2026 Actual Results Positive

FY25 Appendix 4E Preliminary Final Report

Kina Securities Limited (ASX: KSL) delivered a strong FY2025, reporting statutory NPAT of PGK 120.7m, up 20% on the prior corresponding period, with underlying NPAT rising 15% to PGK 126.2m. Revenue grew 13% to PGK 545.5m, driven by a 20% increase in net interest income and 17% growth in FX income, while the cost-to-income ratio improved sharply from 59.1% to 54.7%. The board declared a full-year dividend of AUD 11.0 cents per share (up 10%), and management guided to further earnings growth in 2026 supported by PNG economic expansion and a reduction in the corporate tax rate from 40% to 35%. Key points: Statutory NPAT grew 20% to PGK 120.7m; underlying NPAT grew 15% to PGK 126.2m, reflecting strong core banking momentum.; Net interest income rose 20% to PGK 267.7m, supported by a 22% increase in loan interest income and a material expansion in net interest margin from 5.8% to 6.8%.; Total revenue increased 13% to PGK 545.5m, with FX income up 17% to PGK 100.3m and fees & commissions up 9%.

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