August 17, 2026

Pan Jamaica Group Limited (PJAM)
Unaudited financials for the six months ended June 30, 2026:

Pan Jamaica Group Limited (PJAM) for the six months ended June 30, 2026, reported a 6% increase in Gross operating revenue totalling $22.79 billion compared to $21.43 billion for the corresponding period of 2025. Gross operating revenue for the second quarter was flat at $11.66 billion relative to $11.67 billion for the comparable quarter of 2025.

Cost of operating revenue amounted to $16.38 billion (2025: $14.68 billion), an increase of 12% year over year. Consequently, Gross Profit declined 5% to $6.41 billion compared with $6.75 billion for the six months ended June 30, 2025. The Group booked Gross Profit of $3.20 billion for the second quarter, a 15% decline versus $3.75 billion reported for the similar quarter of 2025.

Other income and expenses, net increased 13% to $335.64 million (2025: $298.10 million), while Net investment income reflected a loss of $37.10 million relative to income of $616.55 million in the prior year period, reflecting financial market conditions that adversely affected the Group’s investment income and foreign exchange positions. For the quarter, Net investment income was a loss of $139.95 million (2025: income of $235.48 million).

Selling, administration and other operating expenses were flat at $4.82 billion (2025: $4.82 billion), while for the quarter these expenses declined 10% to $2.34 billion (2025: $2.59 billion).

Share of results in associates and joint ventures fell 51% to $1.51 billion (2025: $3.08 billion), while for the quarter it declined 44% to $923.99 million (2025: $1.66 billion). By division, the Financial Services Division, whose principal holding is a 30.2% interest in Sagicor Group Jamaica Limited, contributed $1.45 billion (2025: $2.62 billion), a 45% reduction reflecting the absence of a one-off realised gain on the sale of securities in 2025, the non-recurrence of significant non-core market experience gains on Sagicor’s insurance segment, and additional provisions related to Hurricane Melissa in its general insurance business.

Consequently, Profit before finance costs and taxation for the six months amounted to $3.40 billion, a 43% decline relative to $5.92 billion reported in 2025. The Property & Infrastructure Division generated $720.74 million, in line with the prior year, the Global Services Division earned $1.80 billion (2025: $2.50 billion), a 28% decline, and the Specialty Foods Division contributed $221.84 million (2025: $420.15 million), a 47% reduction driven primarily by the impact of Hurricane Melissa on the JP Farms operation.

Finance costs increased 4% to $851.77 million (2025: $815.16 million), while for the quarter finance costs declined 18% to $334.58 million (2025: $407.84 million).

As such, Profit before Taxation totalled $2.55 billion, a 50% decrease from the $5.11 billion reported for the six months ended June 30, 2025. For the quarter, Profit before Taxation amounted to $1.49 billion (2025: $2.81 billion).

Taxation for the six months amounted to $392.39 million, a 24% decline relative to $516.13 million reported in 2025. As such, Net Profit for the six months ended June 30, 2026, had a 53% decrease to reach $2.16 billion (2025: $4.59 billion). Net Profit for the quarter amounted to $1.23 billion (2025: $2.48 billion).

Net Profit Attributable to Parent Company Stockholders for the six months amounted to $1.47 billion, a 60% decline from the $3.70 billion reported in 2025. For the second quarter, Net Profit Attributable to Parent Company Stockholders was $985.45 million (2025: $2.01 billion).

Consequently, Earnings Per Share for the six months amounted to $0.90 (2025: EPS: $2.27), while Earnings Per Share for the quarter totalled $0.61 (2025: EPS: $1.24). The twelve-month trailing EPS was $2.49, and the number of shares used in these calculations was 1,627,725,023.

Notably, PJAM’s stock price closed the trading period on August 17, 2026, at a price of $45.87 with a corresponding P/E ratio of 18.42x.

Balance Sheet Highlights

The Group’s assets totalled $152.54 billion (2025: $149.65 billion), an increase of 2% or $2.89 billion. Notably, Investment in associated companies and joint ventures led the growth in total assets with an increase of $2.38 billion or 6% to close at $40.99 billion. Property, plant and equipment rose $964.02 million or 2% to $53.43 billion, Investment properties advanced $728.69 million or 6% to $13.94 billion, Securities purchased under agreement to resell increased $446.22 million to $8.81 billion, and Cash and deposits grew $342.98 million to $8.97 billion. These increases were partly offset by a $1.43 billion or 23% reduction in Investment securities to $4.69 billion, a $524.32 million or 6% decline in Trade receivables and miscellaneous assets to $8.92 billion, a $223.26 million reduction in Intangible assets to $6.54 billion, and a $77.39 million decline in Right of use assets to $833.46 million.

Total Liabilities amounted to $36.86 billion (2025: $37.92 billion), down 3%. Loan liabilities declined 3% to $23.11 billion (2025: $23.76 billion), Payables and other liabilities fell 3% to $8.02 billion (2025: $8.30 billion), and Lease liabilities declined 12% to $1.29 billion (2025: $1.47 billion).

Shareholder’s equity attributable to owners of the parent was $86.64 billion (2025: $83.93 billion), an increase of 3%, representing a book value per share of $53.23 (2025: $51.56). Total equity, inclusive of non-controlling interests of $29.04 billion (2025: $27.80 billion), closed at $115.69 billion (2025: $111.73 billion).