August 13, 2026
Jamaica Stock Exchange Limited (JSE)
Unaudited Interim Financials for the Six Months Ended June 30, 2026
Jamaica Stock Exchange Limited (JSE), for the six months ended June 30, 2026, reported a 6% decrease in Total Income to J$1.43 billion, compared to J$1.52 billion recorded in the corresponding period in 2025. For the second quarter, however, Total Income amounted to J$721.9 million (Q2 2025: J$658.5 million), a 10% increase year-over-year, with all revenue categories showing gains. The main driver of the quarterly improvement was Cess Income, which rose 43% to J$132.1 million (Q2 2025: J$92.2 million) due to heightened market activity, although Cess Income for the six months fell 38% to J$217.0 million (H1 2025: J$347.8 million) on weaker activity earlier in the year. Fee Income, the Group’s largest revenue line, grew 3% to J$1.10 billion for the six months (H1 2025: J$1.07 billion).
Total Expenses for the six months decreased 10% to J$1.05 billion, compared to J$1.16 billion in H1 2025. For the quarter, Total Expenses fell 13% to J$531.0 million (Q2 2025: J$607.9 million), a direct result of the Group’s strategic focus on efficiency improvement. Advertising and Promotion expenses fell 31% to J$63.0 million for the six months (H1 2025: J$91.4 million), reflecting a realignment of activities with strategic imperatives, while Net Impairment Losses on Financial Assets declined 90% to J$7.8 million (H1 2025: J$75.1 million), propelled by the collection of overdue receivables. Staff Costs, the largest expense category, rose modestly by 2% to J$509.7 million (H1 2025: J$497.9 million).
Investment Income for the six months fell 58% to J$14.2 million, compared to J$33.7 million in H1 2025. Profit Before Taxation for the six months closed at J$396.0 million, marginally ahead (+1%) of J$391.3 million in H1 2025. For the second quarter, Profit Before Taxation surged to J$195.7 million, compared to J$68.2 million in Q2 2025, an increase of 187%, reflecting improved income together with the significant reduction in total expenses.
The Group reported a Taxation charge of J$129.1 million for the six months (H1 2025: J$109.5 million), resulting in Net Profit of J$266.9 million, a 5% decrease relative to J$281.8 million in H1 2025. Net Profit for the second quarter, however, amounted to J$132.4 million, a 191% increase relative to J$45.5 million in Q2 2025. Management noted that the strong second-quarter performance has substantially narrowed the year-to-date shortfall relative to 2025. Total Comprehensive Income for the six months was J$265.6 million (H1 2025: J$280.9 million).
Consequently, Earnings Per Share for the six months amounted to J$0.38 (H1 2025: J$0.40), while Earnings Per Share for the second quarter totalled J$0.19 (Q2 2025: J$0.06). The twelve-month trailing EPS was $0.61, and the number of shares used in these calculations was 701,250,000.
Notably, JSE’s stock price closed on August 12, 2026, at J$8.85, with a corresponding P/E ratio of 14.60x.
Balance Sheet Highlights
Total Assets as at June 30, 2026 amounted to J$4.20 billion, an increase of J$434.4 million (11.5%) compared to J$3.76 billion at June 30, 2025, due primarily to increased investment in Government Securities Purchased Under Resale Agreement, which rose to J$1.21 billion (June 2025: J$817.1 million).
Total Equity of J$3.27 billion as at June 30, 2026 reflects an increase of J$334.0 million (11.4%) over the J$2.93 billion reported on June 30, 2025, representing a book value per share of $4.66 (2025: $4.18).
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