For the first quarter ended May 31, 2022:-
Portland JSX Limited (PJX), for the first quarter ended May 31, 2022, reported Net gains on financial assets classified at fair value through profit & loss of US$1.08 million compared to gains of US$750,683 in 2021.
Interest from loans and receivables for the quarter increased by 1762% amounting to US$7,692 (2021: $413). Dividend income from financial instruments at FVOCI was US$63,889 for the period (2021: nil). PJX recorded Net foreign exchange losses of US$37,468 (2021: US$43,064)
Operating Expenses, inclusive of accounting & audit Fees, directors, legal & management fees, administrative fees and other expenses decreased by 23% to US$199,262 (2021: US$257,601).
Dividends paid to preference shareholders totalled $51,111 (2021: nil) while interest expense ended at US$74,879 (2021: US$95,833).
PJX incurred no taxes for the first quarter ended May, 2022, as such the company recorded a net profit for the year of US$793,323 compared to US$354,598 in 2021.
Earnings per share (EPS) for the period amounted to US$0.0026 (J$0.40) compared to an Earnings per Share of US$0.0011 (J$0.17) reported in 2021. The number of shares used in this calculation was 309,968,261. PJX’s stock price closed the trading period on July 18, 2022 at J$10.50 with a P/E ratio of 4.46x. Balance Sheet Highlights:
As at May 31, 2022, PJX had total assets valued at US$42.21 million on its balance sheet compared to US$41.23 million reported in 2021. This growth resulted from a 3% increase in ‘Financial investment, at fair value through profit or loss’ to total US$36.73 million (2021: US$35.81 million) and a 180% increase in ‘Securities purchased under resale agreements’ to US$245,862 (2021: US$87,918)
Total Stockholders’ equity closed at US$33.03 million compared to the US$32.23 million reported in 2021. This resulted in a book value per share of US$0.11 (J$16.49) compared to US$0.10 (J$15.51).
Disclaimer:
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.