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).
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