March 06, 2025
Caribbean Producers Jamaica Limited (CPJ)
Audited financials for the six months ended December 31, 2024:
All figures are stated in USD unless otherwise indicated.
Caribbean Producers Jamaica Limited (CPJ) for the six months ended December 31, 2024, reported an 8% increase in Gross Operating Revenue totaling US$80.15 million compared to US$74.29 million in the corresponding period last year. Gross Operating Revenue for the second quarter had a 15% increase to close at US$46.14 million compared to US$40.07 million for the comparable quarter of 2023.
Cost of Operating Revenue amounted to US$58.03 million (2023: US$51.97 million), this represents an increase of 12% year over year. Consequently, gross profit decreased by 1% to US$22.12 million compared to US$22.32 million for the six months ended December 31, 2023. The company booked gross profit of US$11.97 million for the second quarter versus US$12.13 million reported for the similar quarter of 2023.
Selling and Administrative Expenses increased by 8% to close at US$15.23 million (2023: US$14.15 million), while Depreciation increased by 4% from US$2.24 million in 2023 to US$2.33 million in the period under review. As a result, other operating income for the six months ended December 31, 2024, amounted to US$124,280, a 61% increase relative to US$77,433 reported in 2023.
Profit before finance income, finance costs and taxation for the six months ended December 31, 2024, amounted to US$4.50 million, a 24% decrease relative to US$5.93 million reported in 2023. Profit before finance income, finance costs and taxation for the second quarter amounted to US$4.03 million (2023: US$3.46 million).
Finance Income totalled US$38,940, a 12,837% increase from the corresponding period last year. (2023: US$301) while Finance Cost totalled US$1.61 million, a 5% decrease from the corresponding period last year. (2023: US$1.69 million)
Profit Before Taxation for the six months ended December 31, 2024, amounted to US$2.93 million, a 31% decrease relative to US$4.24 million reported in 2023. Profit Before Taxation for the second quarter amounted to US$3.33 million (2023: US$2.61 million). Taxation for the six months ended December 31, 2024 had a 52% decrease to reach US$436,018 (2023: US$910,492) . Net Profit for the six months amounted to US$2.50 million, a 25% decrease from the US$3.33 million reported in 2023. For the second quarter, Net Profit was US$2.94 million (2023: US$2.10 million).
Consequently, Earnings Per Share for the six months amounted to US$0.0024 (2023: EPS: US$0.003), while Earnings Per Share for the quarter totaled US$0.0027 (2023: EPS: US$0.0019). The twelve-month trailing EPS was US$0.005, and the number of shares used in these calculations was 1,100,000,000.
Notably, CPJ’s stock price closed the trading period on March 04, 2025, at a price of $8.94 with a corresponding P/E ratio of 11.46x.
Balance Sheet Highlights
The company’s assets totalled US$106.20 billion (2023: US$95.50 billion). This increase in total assets was attributable to property, plant and equipment which amounted to US$16.70 million (US$10.04 million).
Shareholder’s equity was US$38.23 billion (2023: US$31.20 billion), representing a book value per share of US$34.75 (2023: US$28.36).
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