November 10, 2026
Jamaican Teas Limited (JAMT)
Unaudited Financials for the Twelve Months Ended September 30, 2026:
Jamaican Teas Limited (JAMT) for the twelve months ended September 30, 2026 reported a 7% increase in Operating Revenues, totalling $3.70 billion compared to $3.47 billion in the corresponding period last year. Operating Revenues for the fourth quarter remained relatively unchanged at $858.50 million compared to $855.33 million in 2025.
Cost of Goods Sold amounted to $2.93 billion (2025: $2.73 billion), representing a 7% increase year over year. Consequently, Gross Profit increased by 3% to $775.46 million compared to $749.57 million for the twelve months ended September 30, 2025. However, Gross Profit for the fourth quarter declined by 8% to $185.27 million from $200.49 million in the corresponding quarter of 2025.
Investment Income increased significantly by 278% to $413.60 million from $109.39 million in 2025. For the fourth quarter, Investment Income rose by 48% to $236.35 million compared to $159.24 million in the corresponding period last year. The improvement was primarily driven by Fair Value Gains on Investments, which increased to $305.21 million from $41.80 million, alongside Realised Gains on the Sale of Investments of $53.44 million compared to a realised loss of $13.18 million in 2025. Meanwhile, Other Income declined by 22% to $20.72 million from $26.73 million in the prior year.
Sales and Marketing Costs increased by 73% to $66.83 million from $38.62 million in 2025, while Administrative Expenses increased by 5% to $562.93 million from $534.03 million. Consequently, combined Sales, Marketing and Administrative Expenses amounted to $629.76 million for the twelve months ended September 30, 2026, representing a 10% increase from $572.65 million reported in 2025.
Operating Profit for the twelve months ended September 30, 2026 increased by 85% to $580.01 million compared to $313.04 million in 2025. For the fourth quarter, Operating Profit increased marginally by 1% to $271.21 million from $267.24 million in the corresponding quarter last year.
Finance Costs for the twelve months increased by 52% to $67.16 million from $44.16 million in 2025. For the fourth quarter, Finance Costs rose by 23% to $19.07 million compared to $15.54 million in the corresponding quarter last year. Consequently, Profit Before Taxation increased by 90% to $512.85 million from $269.56 million, while fourth-quarter Profit Before Taxation remained relatively unchanged at $252.14 million compared to $251.70 million in 2025.
Taxation for the twelve months ended September 30, 2026 increased by 201% to $118.97 million compared to $39.54 million in the prior year. For the fourth quarter, Taxation increased by 15% to $54.80 million from $47.78 million. Consequently, the Group’s Net Profit increased by 71% to $393.89 million compared to $230.02 million reported in 2025. However, for the fourth quarter, Net Profit declined by approximately 3% to $197.24 million from $203.92 million in the corresponding quarter of 2025.
Net Profit Attributable to Shareholders of Jamaican Teas Limited increased by 22% to $275.54 million compared to $226.33 million in the prior year. However, for the fourth quarter, Net Profit Attributable to Shareholders declined by 21% to $111.31 million from $141.28 million in the corresponding quarter of 2025. The difference between the Group’s overall profit growth and the profit attributable to its shareholders reflects a substantial increase in earnings attributable to non-controlling interests, which rose to $118.34 million from $3.69 million in the prior year.
Meanwhile, Total Comprehensive Income Attributable to Shareholders increased by 137% to $607.71 million compared to $255.90 million in 2025, primarily supported by a $332.16 million revaluation surplus on land and buildings, compared to $29.57 million in the prior year. For the fourth quarter, Total Comprehensive Income Attributable to Shareholders amounted to $443.48 million compared to $141.28 million in the corresponding quarter of 2025.
Consequently, Basic Earnings Per Share for the twelve months ended September 30, 2026 amounted to $0.1264 (2025: $0.1040), while Basic Earnings Per Share for the fourth quarter amounted to $0.0511 compared to $0.0650 in 2025. The twelve-month trailing EPS was approximately $0.1264, and the number of ordinary shares outstanding at September 30, 2026 was 2,179,680,377.
Notably, JAMT’s stock price closed the trading period on November 9, 2026 at a price of $2.15, with a corresponding P/E ratio of approximately 17.01x.
Balance Sheet Highlights
The Group’s Total Assets amounted to $6.25 billion at September 30, 2026, representing a 10% increase from $5.71 billion in 2025. The increase was primarily driven by Quoted Investments, which rose by 19% to $2.49 billion from $2.10 billion, an increase of approximately $390.98 million. This movement was supported by the stronger performance of the Group’s investment portfolio, which recorded significant fair value gains during the year.
Shareholders’ Equity increased by 19% to $3.97 billion (2025: $3.34 billion), representing a Book Value Per Share of $1.82 (2025: $1.54). The calculation is based on 2,179,680,377 ordinary shares outstanding at September 30, 2026, compared to 2,174,880,377 in the prior year.
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