May 17, 2023
Jamaica Stock Exchange Limited (JSE) for the three months ended March 31, 2023:
Total revenue declined 4% to $540.04 million (2022: $561.71 million) following a 44% decline in cess income to $72.31 million (2022: $129.70 million). Notably, fee income increased 9% to $408.32 million (2022: $372.99 million).
Total expenses increased 16% to $414.91 million (2022: $359.10 million). The largest contributor to the increase was staff costs, which increased 18% to $190.87 million (2022: $161.18 million).
Remarkably, investment income increased 264% to $11.27 million (2022: $3.10 million).
After taxation charges declined 29% to $49.46 million (2022: $69.73 million), net profit declined 36% to $86.95 million (2022: $135.98 million).
Earnings per share (EPS) amounted to $0.12 (2022: $0.19). The trailing twelve-month EPS amounted to $0.65. The number of shares used in the calculations is 701,250,000. JSE’s stock price closed the trading period on May 16, 2023 at $13.18 with a corresponding P/E ratio of 20.35x.
Balance Sheet Highlights:
Total assets as at March 31, 2023 increased 17% to $3.02 billion (2022: $2.58 billion). This movement was primarily due to a 27% increase in ‘Property, plant and equipment’ to $1.12 billion (2022: $881.44 million).
Shareholders’ equity as at March 31, 2023 increased 15% to $2.31 billion (2022: $2.02 billion) resulting in a book value per share of $3.30 (2022: $2.88).
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