July 16, 2025
Portland JSX Limited (PJX)
Unaudited financials for the first quarter ended May 31, 2025:
Portland JSX Limited (PJX) for the first quarter ended May 31, 2025 reported a 93% decrease in net gain on financial assets classified as at fair value through profit or loss totaling US$1.30 million compared to loss of US$672,286 in the corresponding quarter last year.
Interest from loans and receivables amounted to US$47,119 (2024: US$50,866), this represents a decrease of 7% year over year.
Foreign Exhange Gain increase by 803% to close at US$59,517 (2024: loss of US$8471), while Net interest expense decreases by 89% from US$629,891 in 2024 to US$1.19 million for the quarter under review.
Operating Expenses for the first quarter amounted to US$233,465, a 12% decrease relative to US$266,527 reported in 2024.
Operating loss before finance costs for the quarter amounted to US$1.42 million, a 59% increase relative to loss of US$896,418 reported in 2024.
Interest Expense on bond payable for the first quarter ended May 31, 2025, amounted to US$79,027, a 14% decrease relative to US$91,814 reported in 2024.
Loss for the period for the quarter had a 44% increase to reach a loss of US$1.50 million (2024: loss of US$988,232). Loss for the period, JMD for the quarter amounted to J$227.94 million, a 48% decrease from a loss of J$153.99 million reported in 2024.
Consequently, Loss Per Share for the quarter amounted to US$0.46 (J$73.54) (2024: LPS: US$0.32) (J$49.68). The twelve-month trailing LPS was US$2.38 and the number of shares used in these calculations was 309,968,261. Notably, PJX’s stock price closed the trading period on July 15, 2025, at a price of $10.70.
Balance Sheet Highlights
The company’s assets totalled US$22.96 million (2024: US$26.99 million). The decline in the company’s today asset base is attributed to a a 23% YoY decline in financial investment, at fair value through profit or loss ending the quarter at US$17.17 million (2024: US$22.40 million) and a 10% YoY decline in Loans and receivables ending the quarter at $76,838 (2024: US$85,956).
Shareholder’s equity was US$18.29 million (2024: US$23.04 million), representing a book value per share of US$5.90 (2024: US$7.43).
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