August 15, 2025
Pan Jamaica Group Limited (PJAM)
Unaudited financials for the six months ended June 30, 2025:
Pan Jamaica Group Limited (PJAM) for the six months ended June 30, 2025, reported a 11% increase in Gross operating revenue totalling $21.43 billion compared to $19.34 billion in the corresponding period last year. Gross operating revenue for the second quarter had a 23% increase to close at $11.67 billion compared to $9.49 billion for the comparable quarter of 2024.
Cost of operating revenue amounted to $14.68 billion (2024: $13.69 billion), this represents an increase of 7% year over year. Consequently, gross profit increased by 19% to $6.75 billion compared to $5.65 billion for the six months ended June 30, 2024. The company booked gross profit of $3.75 billion for the second quarter versus $2.74 billion reported for the similar quarter of 2024.
Other income decreased by 43% to close at $298.10 million (2024: $521.00 million). Net Investment income increased by 23% from $502.36 million in 2024 to $616.55 million in the period under review. Also, Selling, administration and other operating expenses for the six months ended June 30, 2025, amounted to $4.82 billion, a 12% increase relative to $4.31 billion reported in 2024.
Share of profits in associates and joint ventures for the six months ended June 30, 2025, amounted to $3.08 billion, a 151% increase relative to $1.23 billion reported in 2024.
Profit before finance cost and taxation totalled $5.92 billion a 65% increase from the corresponding period last year. (2024: $3.60 billion).
Profit before finance cost and taxation for the six months ended June 30, 2025, amounted to $5.92 billion, a 65% increase relative to $3.60 reported in 2024.
Finance costs totalled $815.16 million a 13% increase from the corresponding period last year (2024: $724.08 million).
Profit before taxation for the first six months ended June 30, 2025, amounted to $5.11 billion, a 78% increase relative to $2.88 billion reported in 2024.
Following the 62% increase in Taxation for the six months to $516.13 million (2024: $319.42 million), Net profit amounted to $4.59 billion from the $2.56 billion reported in 2024.
Net profit attributable to shareholders for the six months ended June 30, 2025, amounted to $3.70 billion, a 103% increase relative to $1.82 billion reported in 2024. For the second quarter, Net profit attributable to shareholders was $2.01 billion (2024: $1.05 billion).
Earnings per share for the six months amounted to $2.27 (2024: EPS: 1.12), while Earnings per share for the quarter totalled $1.24 (2024: $0.65). The twelve-month trailing EPS was $3.97, and the number of shares used in these calculations was 1,627,725,023.
Notably, PJAM’s stock price closed on August 14, 2025, at $49.34, with a corresponding P/E ratio of 12.44x.
Balance Sheet Highlights:
The company’s assets totalled $149.65 billion (2024: $141.43 billion). The growth in total assets during the period was led by a $4.76 billion increase in Cash, a $3.59 billion increase in Investment in Associated Companies and Joint Ventures and a $2.28 billion uptick in Receivables. This was slightly offset by a $3.33 billion downturn in Securities purchased under resale agreement.
Shareholder’s equity was $83.93 billion (2024: $76.88 billion), representing a book value per share of $51.56 (2024: $47.23).
Disclaimer:
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