July 29, 2025
Jamaica Teas Limited (JAMT)
Unaudited financials for the nine months ended June 30, 2025:
Jamaica Teas Limited (JAMT), for the nine months ended June 30, 2025, reported a 9% increase in Operating Revenues, totaling $2.63 billion compared to $2.41 billion in the corresponding period last year. Operating Revenues for the third quarter had a 16% increase to close at $893.89 million, compared to $771.80 million for the comparable quarter of 2024.
Cost of sales amounted to $2.09 billion (2024: $1.92 billion); this represents an increase of 9% year over year. Consequently, gross profit increased by 10% to $539.99 million compared to $489.40 million for the nine months ended June 30, 2024. The company booked gross profit of $184.45 million for the third quarter versus $173.77 million reported for the similar quarter of 2024.
Other Income decreased by 11% to close at $2.59 million (2024: $2.91 million), while Sales & Marketing Cost decreased by 17% from $39.24 million in 2024 to $32.65 million in the period under review. Also, administrative expenses for the nine months ended June 30, 2025, amounted to $378.04 million, a 22% increase relative to $310.51 million reported in 2024.
Finance costs for the nine months ended June 30, 2025, amounted to $50.67 million, an 8% decrease relative to $55.26 million reported in 2024. Finance costs for the third quarter amounted to $16.47 million (2024: $18.12 million).
Profit Before Taxation totalled $70.79 million, a 73% decrease from the corresponding period last year (2024: $257.93 million).
Taxation charge for the nine months ended June 30, 2025, amounted to $2.25 million, a 97% decrease relative to $86.09 million reported in 2024. Taxation charge for the third quarter amounted to $21.59 million (2024: $38.71 million).
Net Profit for the nine months ended June 30, 2025, had a 60% decrease to reach $68.54 million (2024: $171.84 million). Net Profit for the third quarter ended June 30, 2025, had a 9% decrease to reach $77.94 million (2024: $85.57 million).
Net profit attributable to shareholders for the nine months amounted to $120.16 million, a 34% decrease from the $180.82 million reported in 2024. For the third quarter, Net profit attributable to shareholders was $67.82 million (2024: $70.02 million).
Consequently, Earnings Per Share for the nine months amounted to $0.06 (2024: EPS: $0.08), while Earnings Per Share for the quarter totaled $0.03 (2024: EPS: $0.03). The twelve-month trailing EPS was $0.07, and the number of shares used in these calculations was 2,179,680,377.
Notably, JAMT’s stock price closed the trading period on July 28, 2025, at a price of $2.35, with a corresponding P/E ratio of 80.60x.
Balance Sheet Highlights
The company’s assets totalled $5.42 billion (2024: $5.47 billion). JAMT highlighted, “Fixed assets increased primarily due to $140 million in capital improvements and machinery purchases at the Temple Hall factory. Housing inventories declined by $82 million following the sale of three Belvedere units, while other inventories fell $78 million due to improved purchasing practices. Receivables were slightly lower year-to-date despite expanded manufacturing operations.”
Shareholder’s equity was $3.26 billion (2024: $3.18 billion), representing a book value per share of $1.49 (2024: $1.46).
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