Cave Shepherd & Co. Limited is continuing to diversify its operations following a year in which it earned a $17.5 million profit attributable to equity holders.
This income represents a 15 per cent increase over the $15.1 million profit in 2024, reflecting what management called another year of solid performance across the group, with earnings per share (EPS) increasing from $0.94 from $0.81 in 2024.
As earnings grew, Cave Shepherd announced that subsequent to the end of the financial year on December 31, it merged new subsidiary MyStorage Inc., with Store All entities to form Store All Inc. which operates a leading self-storage business in Barbados.
The Barbados business group reported improved profitability from its continuing operations, with profit before taxation of $20.6 million in 2025 compared with $18.7 million in 2024, and more than doubling the $10 million delivered in 2021.
Cave Shepherd said its audited results demonstrate resilient operating momentum, disciplined management, and consistent performance of its portfolio.
Chairman Sir Geoffrey Cave noted in the directors’ report that “the board remains focused on sustaining profitability while investing in growth, technology and operational enhancements across the Group”.
Management noted that the 2025 performance was underpinned by strong and consistent results from the group’s core financial services companies and associates, including Payce Digital, Fortress, SigniaGlobe Financial and DGM.
The group also reported improved contributions from its non-financial businesses Ganzee and PickUp Taxi Inc. and its joint ventures and financial investments, all of which supported broad-based earnings growth.
Cave Shepherd highlighted the strength of its long-term record of delivering shareholder returns, with EPS increasing from $0.43 in 2021 to $0.94 in 2025, and dividends declared rising from $3.3 million in 2021 to $7.1 million in 2025, representing more than a doubling over the period.
The company added that its financial position remains strong, supported by total equity of $120.2 million, solid working capital of $101.5 million and a return on average equity of 15.4 per cent.
Cave Shepherd’s net equity investment amounted to $8 million for an 80 per cent share of the business and involved a re-financing of the amalgamated company by CIBC Caribbean in the amount of $16 million and an issue of preference shares to the previous owner for $2 million.
The group said this acquisition, positioned the new subsidiary for continued growth and development in the years ahead. (SC)
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