May 16, 2025
Pan Jamaica Group Limited (PJAM)
Unaudited financials for the first quarter ended March 31, 2025:
Pan Jamaica Group Limited (PJAM) for the first quarter ended March 31, 2025, reported a 1% decrease in gross operating revenue totalling $9.76 billion compared to $9.85 billion in the corresponding three months last year.
Cost of operating revenue amounted to $6.76 billion (2024: $6.94 billion), this represents a decrease of 3% year over year. Consequently, gross profit increased by 3% to $3.00 billion compared to $2.91 billion for the first quarter ended March 31, 2024.
Other income decreased by 68% to close at $137.07 million (2024: $433.08 million).
Net Investment income increased by 76% from $216.42 million in 2024 to $381.07 million for the three months.
Selling, administration and other operating expenses for the first quarter amounted to $2.24 billion, a 2% decrease relative to $2.27 billion reported in 2024.
Share of profits in associates and joint ventures increased by 323% to close at $1.43 billion (2024: $337.09 million).
Profit before finance cost and taxation for the three months amounted to $2.71 billion, a 67% increase relative to $1.62 billion reported in 2024.
Finance costs totalled $407.32 million a 22% increase from the corresponding period last year (2024: $335.02 million).
Profit before taxation for the first quarter ended March 31, 2025, amounted to $2.30 billion, a 79% increase relative to $1.29 billion reported in 2024.
Following the 54% increase in Taxation for the three months to $191.10 million (2024: $124.35 million), Net profit amounted to $2.11 billion from the $1.17 billion reported in 2024.
Net profit attributable to shareholders for the first quarter ended March 31, 2025, amounted to $1.68 billion, a 119% increase relative to $769.13 million reported in 2024.
Consequently, Earnings per share for the three months amounted to $1.03 (2024: EPS: $0.47). The twelve-month trailing EPS was $3.38, and the number of shares used in these calculations was 1,627,725,023.
Notably, PJAM’s stock price closed the trading period on May 16, 2025, at a price of $52.99 with a corresponding P/E ratio of 15.70x.
Balance Sheet Highlights
The company’s assets totalled $145.22 billion (2024: $139.83 billion). The growth in total assets was primarily due to a $4.13 billion uptick in Cash and deposits.
Shareholder’s equity was $81.09 billion (2024: $76.02 billion), representing a book value per share of $49.82 (2024: $46.70).
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