PJAM reports 106% increase in year end net profit attributable to shareholders

March 3, 2022

PanJam Investment Limited (PJAM) for the year ended December 31, 2021, reported a 109% increase in total income to total $4.30 billion relative to $2.05 billion booked for the prior year’s corresponding period. For the quarter, total income increased 19% to $1.41 billion (2020: $1.19 billion).  Of total income:

  • Investment gains amounted to $2.06 billion relative to an investment loss of $523.25 million in 2020.
  • Property income amounted to $2.10 billion, down 2% year over year (2020: $2.14 billion).

Operating expenses amounted to $1.86 billion for the year ended December 31, 2021 (2020: $1.70 million), 9% more than its total a year prior. Operating expenses for the quarter rose 15% to close at $529.58 million (2020: $462.22 million).

Consequently, operating profits rose by 692% to a total of $2.50 billion relative to $315.08 million a year earlier, while for the quarter operating profit increased by 25% to $948.96 million (2020: $758.32 million).

Finance costs for the period rose by 9%, amounting to $914.42 million compared to the $835.91 million for the comparable period in 2020.

Share of results of associated companies amounted to $5.46 billion relative to $3.87 billion in 2020.

Profit before taxation rose 116%, closing the period at $7.23 billion (2020: $3.35 billion). Taxation credit amounted to $20.57 million, relative to taxation charges of $188.73 million reported in the prior year. Net profit amounted to $7.25 billion (2020: $3.53 billion). Net profit for the quarter amounted to $2.44 billion compared to $1.48 billion booked in 2020.

Net Profit Attributable to Shareholders for the period amounted to $7.20 billion a 106% increase relative to the $3.50 billion recorded in 2020.

Total comprehensive income amounted to $3.70 billion relative to a loss of $4.80 million a year prior.

Consequently, earnings per share for the period amounted to $6.76 (2020: $3.29), while earnings per share for the quarter amounted to $2.26 (2020: $1.38). The number of shares used in the calculation is 1,066,159,890 units. Notably, PJAM’s stock price closed the trading period on March 3, 2022 at a price of $66.75 with a corresponding P/E ratio of 9.56 times.


Balance Sheet at a glance:

As at December 31, 2021, PanJam Investment Limited (PJAM) had assets totaling $66.56 billion, a 6% increase relative to $62.57 billion a year prior. The growth was attributed to an increase in ‘Investment in associated companies’ which closed at $38 billion (2020: $35.34 billion).

Shareholders Equity amounted to $51.96 billion (2020: $47.23 billion) with a book value per share of $48.74 (2020: $44.30).



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.