Ronchess Global Resources Plc has released its unaudited financial statements for the quarter ended September 30, 2025, showing a significant downturn in performance compared with the same period in 2024.
The company recorded a steep drop in revenue and widened losses, driven largely by increased direct costs, finance charges, and administrative expenses.
According to the financial report, revenue for the three months stood at ₦306.55 million, significantly lower than the ₦1.64 billion recorded in the third quarter of 2024.
The sharp decline in revenue, coupled with direct costs amounting to ₦2.11 billion, resulted in a gross loss of ₦1.80 billion, compared with a gross profit of ₦809.15 million in the previous year.
General and administrative expenses also remained high at ₦410.38 million, leading to a negative EBITDA of ₦2.21 billion, a reversal from the positive ₦340.60 million recorded in Q3 2024.
After accounting for depreciation, finance costs of ₦575.89 million, and tax expenses, the company reported a loss after tax of ₦2.89 billion for the quarter. This contrasts sharply with the ₦143.27 million profit after tax reported during the same period last year. As a result, basic earnings per share declined from ₦1.57 in Q3 2024 to a loss per share of ₦28.62 in Q3 2025.
For the nine months ended September 30, 2025, the company also posted a loss after tax of ₦4.57 billion, compared to a loss of ₦1.11 billion in the corresponding period in 2024.
The company’s total assets stood at ₦10.72 billion as of September 30, 2025, slightly higher than ₦10.36 billion reported a year earlier. Property, plant, and equipment remained the largest component of non-current assets, valued at ₦6.40 billion.
However, retained earnings dropped significantly to ₦4.31 billion (negative), compared to a positive ₦744.57 million in September 2024, indicating accumulated losses over the period. Total equity fell to ₦2.98 billion, down from ₦5.61 billion last year.
The company’s debt profile also increased, with non-current borrowings rising to ₦7.04 billion from ₦4.18 billion in 2024.
The financial statements were approved by the Board of Directors and signed by:
Oluwakemi Akinloye, Chief Financial Officer
Ukeweo Jackson, Chief Executive Officer
Adeolu Adeboye, Board Chairman
The company did not issue an accompanying statement providing reasons for the earnings decline, but the results suggest continuing cost pressures and possible operational challenges across its business segments.
