May 05, 2025
Jamaican Teas Limited (JAMT)
Unaudited financials for the six months ended March 31, 2025:
Jamaican Teas Limited (JAMT) reported a 6% increase in operating revenues totaling $1.74 billion compared to $1.64 billion in the corresponding period last year for the six months ended March 31, 2025. Operating revenues for the second quarter had a 3% increase, closing at $826.28 million compared to $800.19 million for the comparable quarter of 2024.
Cost of sales amounted to $1.38 billion (2024: $1.32 billion), representing an increase of 5% year over year. Consequently, gross profit increased by 12% to $355.55 million compared to $318.13 million for the six months ended March 31, 2024. The company booked a gross profit of $169.03 million for the second quarter versus $161.84 million reported for the similar quarter of 2024.
Other income decreased by 5% to close at $1.89 million (2024: $1.99 million), while sales and marketing costs decreased by 24% from $28.21 million in 2024 to $21.52 million in the period under review. As a result, administrative expenses for the six months ended March 31, 2025, amounted to $245.19 million, a 20% increase relative to $203.83 million reported in 2024.
Finance costs for the six months ended March 31, 2025, amounted to $34.19 million, an 8% decrease relative to $37.15 million reported in 2024. Finance costs for the second quarter amounted to $19.72 million (2024: $18.72 million). Loss before taxation totaled $28.74 million (2024: profit before taxation of $138.85 million).
Taxation credit for the six months ended March 31, 2025, amounted to $19.34 million relative to the taxation charge of $57.74 million reported in 2024. Taxation credit for the second quarter amounted to $33.50 million (2024: taxation charge of $41.90 million).
Net loss for the six months ended March 31, 2025, had a 112% decrease to reach $9.40 million (2024: net profit of $81.11 million). Profit to shareholders for the six months amounted to $52.88 million, a 144% increase from the profit to shareholders of $21.67 million reported in 2024. For the second quarter, loss to shareholders was $581,959 (2024: loss to shareholders of $18.99 million).
Consequently, earnings per share for the six months amounted to $0.024 (2024: EPS: $0.010), while loss per share for the quarter totaled $0.0003 (2024: LPS: $0.009). The twelve-month trailing EPS was $0.07, and the number of shares used in these calculations was 2,174,880,377.
Notably, JAMT’s stock price closed the trading period on May 02, 2025, at a price of $2.55 with a corresponding P/E ratio of 35.68x.
Balance Sheet Highlights
The company’s assets totaled $5.32 billion (2024: $5.51 billion). This decrease in total assets was attributable to inventories, which equated to $522.60 million (2024: $738.87 million).
Shareholders’ equity was $3.19 billion (2024: $3.10 billion), representing a book value per share of $1.47 (2024: $1.42).
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