PJAM reports first quarter net loss attributable to shareholders of $11.12 million

May 24, 2023


Unaudited financial statements for the three months ended March 31, 2023:

Investment income decreased by 96% to $10.13 million (2022: $236.94 million).

Hotel Income was $448 million. (2022: nil)

Total Income increased by 31% to $1.01 billion. (2022: $769.49 million).

Operating Expenses increased by 155% to $1.39 billion (2022: $545.64 million).

Operating losses increased to $383.43 million from an operating profit of $226.30 million in the previous year.

Finance costs increased by 15% to $277.08 million (2022: $241.36 million).

Net loss decreased by 98% to $5.55 million (2022: loss of $318.05 million)

Net loss attributable to shareholders decreased by 97% to $11.12 million from a loss of $323.80 million in the prior comparable period.

Loss per share for the period amounted to $0.01 relative to an LPS of $0.31 in 2022. The twelve months trailing EPS amounted to $4.74. The number of shares used in this calculation was 1,066,159,890. As of May 16, 2023 the stock traded at $52.78 and a P/E of 11.12x.

Balance Sheet at a glance:

As at March 31, 2023, Total Assets amounted to $58.44 billion (2022: $57.07 billion). Of this, ‘Investment in associated companies’ increased to $27.32 billion from $26.64 billion in the previous year.

Shareholder’s equity was $42.34 billion (2022: $41.11 billion) with a book value of $39.71 (2022: $38.56).




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.