January 13, 2023
Portland JSX Limited (PJX)
For the nine months ended November 30, 2022:-
- Portland JSX Limited (PJX), for the nine months ended November 30, 2022, reported Net loss on financial assets classified at fair value through profit & loss of US$963,300 compared to gains of US$6.43 million in 2021, for the second quarter the company reported a Net Loss on Financial assets of US$1.88 million (2021: gain of US$1.78 million).
- Interest income for the period increased by 8,397% amounting to US$163,661 (2021: $1,926). Interest income for the quarter grew to US$106,215 from US$1,025 in 2021.
- Dividend income from financial instruments at FVOCI was US$190,972 for the nine months period (2021: nil). Dividend income for the quarter amounted to US$63,194 (2021: nil).
- PJX recorded nine months Net foreign exchange loss of US$38,629 compared to a gain of US$111,412 in 2021. Foreign exchange gain for the quarter amounted to US$98,492 compared to a Foreign exchange gain US$98,110 in 2021.
- Operating Expenses, inclusive of accounting & audit Fees, directors, legal & management fees, administrative fees and other expenses decreased by 47% to US$341,488 (2021: US$639,712).
- Dividends paid to preference shareholders totalled $152,778 (2021: nil) while interest expense ended at US$243,310 (2021: US$258,632).
- PJX incurred no taxes for the nine months ended November 30, 2022, as such the company recorded nine months net loss of US$1.35 million compared to net profit of US$5.65 million in 2021. For the quarter the company reported a net loss of US$1.73 million compared to a net profit of US$1.6 million in 2021.
- Loss per share (LPS) for the nine month period amounted to US$0.0044 (J$0.68) compared to an Earnings per Share of US$0.0182 (J$2.85) reported in 2021. Loss per share (LPS) for the third quarter amounted to US$0.0056 (J$0.86) compared to an earnings per share (EPS) of US$0.0052 (J$0.81) in 2021. PJX’s trailing twelve months (TTM) loss per shares equates to US$0.008 (J$1.36). The number of shares used in this calculation was 309,968,261. PJX’s stock price closed the trading period on January 12, 2023 at J$10.00.
Balance Sheet Highlights
- As at November 30, 2022, PJX had total assets valued at US$40.12 million on its balance sheet compared to US$42.29 million reported in 2021. This decline resulted from a 28% decrease in ‘Financial Investments, at fair value through profit or loss’ to total US$26.5 million (2021: US$37.07 million).
- Total Stockholders’ equity closed at US$30.88 million compared to the US$33.45 million reported in 2021. This resulted in a book value per share of US$0.10 (J$15.44) compared to US$0.11 (J$16.91).
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