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).
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