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).
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