Hords PLC has recorded explosive revenue growth in its unaudited financial statements for the period ending September 30, 2025, though the company remains unprofitable as it navigates an aggressive expansion phase.
The company’s revenue jumped to GH¢ 3.76 million in 2025 from GH¢ 0.25 million the previous year, representing a fifteenfold increase that signals successful scaling of sales operations. Despite this dramatic growth, Hords PLC (Public Limited Company) continues to operate at a loss, though the deficit has narrowed considerably.
The firm reported a net loss of GH¢ 82,377 for 2025, a substantial improvement from the GH¢ 553,492 loss recorded in 2024. This trend suggests the company is moving closer to breakeven as revenue expands. Gross profit climbed to GH¢ 426,374 from GH¢ 99,316, though the gross profit margin remains relatively thin at approximately 11.3 percent.
Total assets grew to GH¢ 2.74 million from GH¢ 2.55 million, while equity stands at GH¢ 2.20 million, supported by stated capital of GH¢ 3.25 million. However, total liabilities nearly doubled to GH¢ 535,533 from GH¢ 284,682, driven primarily by increased borrowing and supplier credit.
Trade payables nearly tripled to GH¢ 330,777 from GH¢ 113,107, indicating the company is leveraging supplier credit to fund operations. Loans increased to GH¢ 204,755 from GH¢ 171,575 during the same period.
Cash flow presents the most significant concern for investors. The company experienced a net cash decrease of GH¢ 202,171, with operating activities consuming GH¢ 199,308 in cash. The decline stems largely from substantial increases in inventory and receivables that tied up working capital. Inventory surged to GH¢ 275,417 from GH¢ 11,810, while trade receivables jumped to GH¢ 110,200 from GH¢ 400 as the company extended more credit to customers.
The cash balance fell to GH¢ 144,058 from GH¢ 346,230, raising questions about short term liquidity if the trend persists. Investing activities used GH¢ 20,907 for property, plant and equipment purchases, while financing activities provided a modest GH¢ 18,043 inflow from additional loans.
Administrative expenses showed marked improvement, contributing to the reduced loss. Other operating expenses dropped from GH¢ 530,504 to GH¢ 126,453, with notable reductions in inventory write offs.
Financial analysts note that Hords PLC appears to be in a classic growth and investment phase, prioritizing market expansion over immediate profitability. The company’s challenge lies in converting revenue growth into positive cash flow while managing its increasing reliance on debt and supplier financing.
The statements remain unaudited and are subject to potential adjustments upon final audit completion.
