February 17, 2026
RADIO JAMAICA LIMITED (RJR)
Unaudited financials for the nine months ended December 31, 2025:
RADIO JAMAICA LIMITED (RJR), for the nine months ended December 31, 2025, reported a 12% decline in revenue, totaling $3.56 billion, compared to $4.05 billion for the corresponding period in 2024. Revenue for the third quarter decreased by 19%, closing at $1.10 billion versus $1.36 billion for Q3 2024.
Direct expenses amounted to $1.70 billion (2024: $1.91 billion), reflecting an 11% year‑over‑year decrease. Consequently, gross profit fell by 13% to $1.86 billion, compared to $2.13 billion for the nine-month period ended December 31, 2024. For the third quarter, gross profit totaled $542.26 million, down from $765.17 million recorded in Q3 2024.
Administration expenses declined by 6%, closing at $1.11 billion (2024: $1.18 billion), while selling expenses decreased by 14%, moving from $784.02 million in 2024 to $674.97 million for the review period. Total expenses for the nine months ended December 31, 2025, amounted to $2.40 billion, a 6% reduction relative to $2.57 billion reported in 2024.
Operating loss for the nine months amounted to $451.17 million, representing a 40% deterioration compared to the $321.32 million loss recorded in 2024. For the third quarter, the operating loss stood at $213.62 million (2024: $47.30 million).
Finance costs totaled $80.30 million, a 68% increase from $47.80 million in the prior year.
Loss before taxation for the nine months amounted to $531.47 million, a 44% deterioration relative to the $369.11 million loss reported in 2024. For the third quarter, the pre‑tax loss was $240.65 million (2024: $68.00 million).
Taxation credit for the nine months decreased by 26%, amounting to $29.37 million (2024: $39.72 million).
As a result, the company recorded a net loss of $502.10 million for the nine months, a 52% deterioration from the $329.39 million loss recorded in 2024. For the third quarter, the net loss totaled $242.14 million (2024: $58.79 million).
Consequently, Loss Per Share for the nine months amounted to $0.17 (2024: LPS: $0.11), while Loss Per Share for the quarter totaled $0.08 (2024: LPS: $0.02). The twelve-month trailing LPS was $0.28 and the number of shares used in these calculations was 3,023,506,931.
Notably, RJR’s stock price closed the trading period on February 16, 2026 at a price of $1.14.
Balance Sheet Highlights
The company’s assets totaled $5.51 billion (2024: $6.05 billion). The movement in total assets was primarily influenced by a 8% decrease in ‘Fixed assets’ amounting $2.94 billion (2024: $3.13 billion).
Shareholder’s equity was $2.88 billion (2024: $3.81 billion), representing a book value per share of $0.95 (2024: $1.26).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
