NATIONAL Enterprises Ltd (NEL) has recorded a total comprehensive income of $15.3 million for the year ended September 30, 2025, reversing the $348.7 million loss it posted last year.
“For the financial year ended September 30, 2025, National Enterprises Ltd (NEL) is proud to report operating profits of $139 million which represent an increase of 15% over the $120 million reported in the previous corresponding year,” director David Robinson stated in the board report.
“After accounting for the fair value of our unquoted portfolio of companies, NEL has registered a net profit after tax of $15.3 million an increase of 104% when compared to the unrealised fair value losses of $349 million reported for the fiscal year 2024,” it stated.
Robinson said it was notable that NEL not only contained operating expenses but, “through concerted efforts,” reduced them by 9%.
“Dividend income of $129 million represents an increase of 14% compared to $113 million received for fiscal 2024. NEL’s cash flow remains healthy and buoyant with $172 million in cash and cash equivalent as at the close of fiscal 2025,” Robinson stated.
NEL’s cash and cash equivalents stood at the end of last year was $29.4 million.
“NEL’s commitment to the payment of dividend is supported by performances in both our strategic and non-strategic portfolios. For fiscal 2024, NEL paid dividends totalling $156 million or $0.26 per share. NEL’s trailing dividend yield of 7.3% for fiscal 2024 is one of the highest on the local stock market and compares favourably to other market returns,” Robinson said.
“Fiscal 2024 illustrates NEL’s continued drive in creating value for our shareholders in the short term while working towards a sustainable share price that reflects longer term consistency in portfolio fair value,” he stated.
Robinson said NEL’s portfolio of companies maintained “strong footholds” during the past financial year, delivering solid performance across the board.
“We note the return to active contribution and positive performance by NGC Trinidad and Tobago LNG Ltd, which previously comprised of Atlantic LNG Train 1, and is now part of the restructured unified ALNG that includes trains 2, 3 and 4,” he stated.
Robinson said that during the year NEL reinforced its commitment to corporate social responsibility by partnering with and sponsoring initiatives in education, youth development, social welfare, and the arts and culture sector.
“NEL has kept an unwavering focus on delivering value to our shareholders even in the face of chronic uncertainty in global and local markets, geopolitical threats and forecasting challenges with uneven gas supplies. This resilience in the face of multiple challenges underscore not just the sustainability of our underlying assets but also the ability to seize new opportunities to add value and position our portfolio of companies and investments for profitable growth,” Robinson stated.
“NEL is confident that this turnaround in performance is the platform from where our shareholders can consistently receive sustained value for both the short and long-term horizons,” he stated.
NEL was formed to consolidate the government’s shares in specific state enterprises and to facilitate public offerings on Trinidad and Tobago’s Stock Exchange.
NEL has shareholding in Trinidad Nitrogen Company Ltd, NGC NGL Company Ltd (NGC NGL), National Flour Mills (NFM) Ltd, and the Telecommunications Services of Trinidad and Tobago Ltd.
