November 13, 2026
Jamaica Stock Exchange Limited (JSE)
Unaudited Interim Financials for the Nine Months Ended September 30, 2026
Jamaica Stock Exchange Limited (JSE), for the nine months ended September 30, 2026, reported a 2% increase in Total Income to J$2.33 billion, compared to J$2.28 billion in the same period of 2025. Third-quarter Total Income was J$893.9 million (Q3 2025: J$755.5 million), up 18% year over year. Every revenue category grew except Other Operating Income. Cess Income drove the quarter, rising 73% to J$279.3 million (Q3 2025: J$161.6 million) on heightened market activity. For the nine months, however, Cess Income slipped 3% to J$496.3 million (9M 2025: J$509.4 million). Fee Income, the Group’s largest revenue line, grew 4% to J$1.69 billion for the nine months (9M 2025: J$1.63 billion), and rose 5% to J$590.1 million for the quarter (Q3 2025: J$564.2 million).
Total Expenses for the nine months fell 8% to J$1.59 billion, from J$1.73 billion in 9M 2025. For the quarter, Total Expenses fell 6% to J$538.1 million (Q3 2025: J$570.5 million), which management attributed directly to the Group’s efficiency improvement programme. Advertising and Promotion expenses fell 36% to J$70.8 million for the nine months (9M 2025: J$111.2 million), reflecting a realignment of activities with strategic imperatives. Property expenses fell 11% to J$302.3 million (9M 2025: J$337.8 million). Net Impairment on Financial Assets swung to a write-back of J$20.6 million, compared with a charge of J$104.4 million in 9M 2025, as a stronger focus on collecting overdue receivables lowered expected credit losses. Staff Costs, the largest expense category, rose 7% to J$805.3 million (9M 2025: J$750.5 million).
Investment Income for the nine months fell 20% to J$40.3 million, compared to J$50.2 million in 9M 2025. Profit Before Taxation for the nine months rose 31% to J$777.9 million (9M 2025: J$592.9 million). For the third quarter, Profit Before Taxation climbed 89% to J$381.9 million, compared to J$201.6 million in Q3 2025.
The Group reported a Taxation charge of J$257.1 million for the nine months (9M 2025: J$176.4 million), leaving Net Profit of J$520.8 million, a 25% increase on J$416.5 million in 9M 2025. Third-quarter Net Profit was J$253.9 million, up 89% from J$134.7 million in Q3 2025. Management noted that Q3 performance improved significantly over both the March and June 2026 quarters. Total Comprehensive Income for the nine months was J$512.8 million (9M 2025: J$419.2 million).
Consequently, Earnings Per Share for the nine months amounted to J$0.74 (9M 2025: J$0.59), while Earnings Per Share for the third quarter totalled J$0.36 (Q3 2025: J$0.19). The twelve-month trailing EPS was J$0.78, and the number of shares used in these calculations was 701,250,000.
Notably, JSE’s stock price closed on November 13, 2026, at J$9.84, with a corresponding P/E ratio of 12.67x.
Balance Sheet Highlights
Total Assets as at September 30, 2026 amounted to J$4.22 billion, an increase of J$605.2 million (16.7%) compared to J$3.61 billion at September 30, 2025. The increase came mainly from higher investment in Government Securities Purchased Under Resale Agreement, which rose to J$1.21 billion (September 2025: J$692.4 million).
Total Equity as at September 30, 2026 was J$3.40 billion, an increase of J$463.0 million (15.8%) over the J$2.93 billion reported on September 30, 2025. This represents a book value per share of J$4.84 (2025: J$4.18).
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