May 16, 2025
Jamaica Producers Limited (JP)
Unaudited Financials for the First Quarter Ended March 31, 2025
Jamaica Producers Limited (JP) reported a 12% increase in turnover for the first quarter ended March 31, 2025, totaling $30.69 million, compared to $27.33 million for the corresponding period in 2024.
Administrative and other operating expenses rose by 5% to $62.56 million (2024: $59.43 million). Operating Profit improved significantly, increasing by 119% from an Operating Loss of $16.43 million in 2024 to an Operating Profit of $3.17 million for the quarter.
As a result, the Share of profit in associated and joint venture companies for the quarter amounted to $582.79 million, representing a 120% increase compared to $265.35 million reported in 2024.
Profit before finance costs and taxation totaled $585.96 million, a 135% increase relative to $248.92 million in the prior year. Finance costs amounted to $5.20 million, reflecting a 9% decrease from $5.74 million in 2024.
Profit Before Taxation for the quarter was $580.76 million, a 139% increase compared to $243.19 million in 2024.
The taxation credit for the quarter increased by 206% to $4.15 million, compared to a taxation charge of $3.91 million in 2024. Net Profit for the three months amounted to $584.91 million, a 144% increase from $239.27 million reported in the prior year.
Consequently, Earnings Per Share (EPS) for the quarter amounted to $0.52 (2024: $0.21). The twelve-month trailing EPS was $1.75, based on 1,122,144,036 shares outstanding. Notably, JP’s stock price closed at $23.39 on May 15, 2025, reflecting a Price-to-Earnings (P/E) ratio of 13.40x.
Balance Sheet Highlights
The company’s total assets stood at $47.23 billion (2024: $45.06 billion), driven primarily by interest in associated and joint venture companies, which amounted to $35.72 billion (2024: $33.88 billion).
Shareholders’ equity was $38.23 billion (2024: $36.55billion), representing a book value per share of $34.07 (2024: $32.57).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.