November 24, 2025
First Rock Real Estate Investments Limited (FIRSTROCKJMD)
Unaudited financials for the nine months ended September 30, 2025
First Rock Real Estate Investments Limited (FIRSTROCKJMD) reported a 61% increase in Property Income for the nine months ended September 30, 2025, totaling US$3.09 million, compared to US$1.92 million in the corresponding period last year. Property Income for the third quarter increased by 518% to US$303,367, up from US$49,056 for the comparable quarter of 2024.
Rental Income amounted to US$951,438 (2024: US$106,541), representing a 793% year-over-year increase. Consequently, realised and unrealised gains on investment properties rose by 282% to US$2.14 million, compared to US$559,533 for the nine months ended September 30, 2024. For the third quarter, the company booked a realised and unrealised loss on investment properties of US$7,913.
Interest Income from financial assets at amortised cost decreased by 88%, closing at US$25,831 (2024: US$212,953), while Interest Expense increased by 99% from US$524,340 in 2024 to US$1.04 million in the period under review. As a result, Net Operating Income for the nine months ended September 30, 2025, amounted to US$2.30 million, a 40% increase relative to US$1.64 million reported in 2024.
Total Expenses for the nine months ended September 30, 2025, amounted to US$2.00 million, a 49% decrease relative to US$3.91 million reported in 2024. Total Expenses for the third quarter amounted to US$508,810 (2024: US$813,300). Operating Profit totalled US$302,525, an 87% increase from the corresponding period last year (2024: Operating Loss of US$2.27 million).
The Taxation Charge for the nine months ended September 30, 2025, amounted to US$21,920, a 114% increase relative to US$10,235 reported in 2024. The Taxation Charge for the third quarter amounted to US$12,923 (2024: US$6,183).
Net Profit for the nine months ended September 30, 2025, increased by 171% to US$1.04 million, compared to a Net Loss of US$1.45 million in 2024. Net Profit for the quarter amounted to US$31,287 (2024: Net Loss of US$674,537).
Profit attributable to owners of the Company amounted to US$1.04 million for the nine months, representing a 171% improvement compared to a loss of US$1.45 million reported in 2024. For the third quarter, Profit attributable to owners totalled US$31,286 (2024: Loss attributable to owners of US$674,536).
Consequently, Earnings Per Share for the nine months amounted to US$0.004 / J$0.64 (2024: Loss Per Share of US$0.005 / J$0.79), while Earnings Per Share for the quarter totalled US$0.0001 / J$0.02 (2024: Loss Per Share of US$0.002 / J$0.32). The twelve-month trailing Loss Per Share was US$0.0224 / J$3.61 and the number of shares used in these calculations was 38,253,000.
Notably, FIRSTROCKJMD’s stock price closed the trading period on November 24, 2025, at J$10.10.
Balance Sheet Highlights
The Company’s assets totalled US$70.57 million (2024: US$57.25 million). This increase was attributable to growth in Goodwill and Intangible Assets, which amounted to US$4.41 million.
Shareholders’ equity was US$26.81 million (2024: US$33.32 million), representing a book value per share of US$0.09 / J$14.50 (2024: US$0.12 / J$19.05).
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