November 14, 2025

Jamaica Stock Exchange Limited (JSE), for the nine months ended September 30, 2025, reported a 16% increase in Turnover, totaling $2.28 billion compared to $1.95 billion in the corresponding period last year. Turnover for the third quarter increased by 1% to close at $755.54 million compared to $746.44 million for the comparable quarter of 2024.

Fee Income amounted to $1.63 billion (2024: $1.49 billion), representing a 10% year-over-year increase. Consequently, Cess increased by 48% to $509.37 million compared to $344.46 million for the nine months ended September 30, 2024. The company booked Cess of $161.61 million for the third quarter versus $194.10 million reported for the similar quarter of 2024.

Staff Costs increased by 14% to $750.53 million (2024: $658.11 million), while Property Expenses increased by 23%, moving from $273.97 million in 2024 to $337.77 million in the review period. As a result, Other Operating Expenses for the nine months ended September 30, 2025, amounted to $114.60 million, a 76% increase relative to $64.94 million reported in 2024.

Total Expenses for the nine months amounted to $1.73 billion, a 20% increase compared to $1.44 billion reported in 2024. Total Expenses for the third quarter amounted to $570.52 million (2024: $495.91 million). Total Investment Income totalled $50.25 million, a 2% decrease from the corresponding period last year (2024: $51.15 million).

Profit before Taxation for the nine months ended September 30, 2025, amounted to $592.88 million, a 5% increase relative to $562.31 million reported in 2024. Profit before Taxation for the third quarter was $201.59 million (2024: $268.96 million).

The taxation charge for the nine months decreased by 11% to $176.40 million (2024: $197.88 million). Net Profit for the nine months amounted to $416.49 million, a 14% increase compared to $364.43 million reported in 2024. For the third quarter, Net Profit was $134.70 million (2024: $194.92 million).

Consequently, Earnings Per Share (EPS) for the nine months amounted to $0.59 (2024: $0.52), while EPS for the quarter totaled $0.19 (2024: $0.28). The twelve-month trailing EPS was $0.78, and the number of shares used in these calculations was 701,250,000.

Notably, JSE’s stock price closed the trading period on November 13, 2025, at $11.58, with a corresponding P/E ratio of 14.82x.

Balance Sheet Highlights
The company’s assets totalled $3.61 billion (2024: $3.37 billion). This increase was attributable to Government Securities Purchased Under Resale Agreements, which amounted to $692.36 million (2024: $531.82 million).

Shareholders’ equity was $2.93 billion (2024: $2.74 billion), representing a book value per share of $4.18 (2024: $3.91).

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