May 14, 2025
Jamaica Stock Exchange Limited (JSE)
Unaudited financials for the first quarter ended March 31, 2025:
Jamaica Stock Exchange Limited (JSE) for the first quarter ended March 31, 2025, reported a 36% increase in turnover totaling $861.10 million compared to $633.81 million in the corresponding three months last year.
Fee Income amounted to $531.28 million (2024: $485.68 million), representing a 9% annual increase. Consequently, Cess increased by 246% to $255.54 million compared to $73.92 million for the first quarter ended March 31, 2024.
Staff costs increased by 12% to close at $251.64 million (2024: $223.78 million), while Property expenses increased by 1% from $89.38 million in 2024 to $90.71 million for the three months. As a result, Other Operating Expenses for the first quarter amounted to $29.21 million, a 39% increase compared to $21.04 million reported in 2024.
Total Expenses for the three months amounted to $554.18 million, a 12% increase relative to $492.94 million reported in 2024. Total Investment Income totaled $16.13 million, a 31% increase from last year’s period. (2024: $12.33 million).
Profit before Taxation for the first quarter ended March 31, 2025, amounted to $323.05 million, a 111% increase relative to $153.20 million reported in 2024.
Taxation for the three months increased 43% to $86.80 million (2024: $60.68 million). Net Profit for the three months amounted to $236.26 million, a 155% increase from the $92.52 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.34 (2024: EPS of $0.13). The twelve-month trailing EPS was $0.91, and the number of shares used in these calculations was 701,250,000. Notably, JSE’s stock price closed the trading period on May 13, 2025, at a price of $13.10 with a corresponding P/E ratio of 14.36x.
Balance Sheet Highlights
The company’s assets totaled $4.05 billion (2024: $3.48 billion). The company’s asset base grew significantly, driven by a 65% year-over-year (YoY) increase in Trade and Other Receivables, reaching $796.49 million for the quarter, up from $481.74 million in 2024. Additionally, Government Securities Purchased Under Resale Agreements rose by 22% YoY to $708.94 million (2024: $579.31 million), while Cash and Cash Equivalents expanded by 32% YoY to $271.84 million (2024: $177.08 million). Property, Plant, and Equipment (PP&E) also recorded a 5% YoY increase, totaling $1.42 billion, compared to $1.35 billion in the prior year. Intangible assets grew by 10% YoY, ending the quarter at $282.74 million, up from $255.19 million in 2024.
Shareholder’s equity was $3.10 billion (2024: $2.70 billion), representing a book value per share of $4.42 (2024: $3.85).
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