Logicom Public Ltd on Friday reported a significant rise in profitability for the first quarter of 2025, even as revenue declined compared with the same period last year, according to its consolidated financial statements.

Revenue for the quarter ended March 31, 2025, stood at €234.03 million, marking a decrease from €299.12 million recorded in the first quarter of 2024.

Despite the drop in sales, net income attributable to shareholders more than doubled, reaching €23.94 million, up from €11.72 million in Q1 2024.

Moreover, earnings per share (EPS) also improved significantly, rising to 32.31 cents from 15.82 cents in the prior-year quarter.

The report also showed that gross profit for the first quarter of 2025 amounted to €22.7 million, slightly lower than the €24.92 million recorded in the same quarter of 2024.

However, the gross profit margin increased to 9.7 per cent from 8.3 per cent a year earlier, indicating improved profitability per unit of sale despite lower overall sales volume.

Operating profit figures were not disclosed in the summary pages reviewed.

The company also reported a positive contribution from other income, which rose to €925,947 in Q1 2025, compared with €695,863 in the same period last year.

Financial position indicators, such as cash and equivalents, improved to €92.35 million as of March 31, 2025, compared to €77.78 million at the end of 2024.

No forward-looking guidance, commentary on industry outlook, or management statements were included in the released report.

The company’s next financial update is expected with the release of its second-quarter results later this year.