November 17, 2025
Pan Jamaica Group Limited (PJAM)
Unaudited financials for the nine months ended September 30, 2025:
Pan Jamaica Group Limited (PJAM) for the nine months ended September 30, 2025, reported a 14% increase in Gross operating revenue totalling $33.21 billion compared to $29.19 billion in the corresponding period last year. Gross operating revenue for the third quarter had a 20% increase to close at $11.78 billion compared to $9.85 billion for the comparable quarter of 2024.
Cost of operating revenue amounted to $22.96 billion (2024: $20.73 billion), this represents an increase of 11% year over year. Consequently, gross profit increased by 21% to $10.25 billion compared to $8.46 billion for the nine months ended September 30, 2024. The company booked gross profit of $3.51 billion for the third quarter versus $2.81 billion reported for the similar quarter of 2024.
Other income and expenses, net decreased by 30% to close at $455.90 million (2024: $648.87 million). Net Investment income increased by 20% from $644.71 million in 2024 to $770.66 million in the period under review. Also, Selling, administration and other operating expenses for the nine months ended September 30, 2025 amounted to $7.25 billion, a 11% increase relative to $6.52 billion reported in 2024.
Share of profits in associates and joint ventures for the nine months ended September 30, 2025, amounted to $4.56 billion, a 114% increase relative to $2.13 billion reported in 2024. Share of profits in associates and joint ventures for the third quarter amounted to $1.48 billion (2024: $896.79 million).
Profit before finance cost and taxation for the nine months ended September 30, 2025, amounted to $8.79 billion, a 64% increase relative to $ reported in 2024.
Finance costs totalled $1.27 billion a 14% increase from the corresponding period last year (2024: $1.12 billion).
Profit before taxation for the first nine months ended September 30, 2025, amounted to $7.51 billion, a 77% increase relative to $4.24 billion reported in 2024.
Following the 48% increase in Taxation for the nine months to $693.76 million (2024: $470.05 million), Net profit amounted to $6.82 billion from the $3.77 billion reported in 2024.
Net profit attributable to shareholders for the nine months ended September 30, 2025, amounted to $5.41 billion, a 108% increase relative to $2.59 billion reported in 2024. For the third quarter, Net profit attributable to shareholders was $1.71 billion (2024: $772.36 million).
Earnings per share for the nine months amounted to $3.32 (2024: EPS: 1.59), while Earnings per share for the quarter totalled $1.05 (2024: $0.47). The twelve-month trailing EPS was $4.54, and the number of shares used in these calculations was 1,627,725,023.
Notably, PJAM’s stock price closed the trading period on November 14, 2025, at a price of J$49.36 with a corresponding P/E ratio of 10.87x
Balance Sheet Highlights:
The company’s assets totalled $152.41 billion (2024: $143.93 billion). Notably, the growth in total assets were mainly due to increases to the following during the period: Investment in Associate (+$3.95 billion), Receivables (+$1.97 billion) and Cash (+$1.79 billion).
Shareholder’s equity was $85.80 billion (2024: $78.57 billion), representing a book value per share of $52.71 (2024: $48.27).
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