October 18, 2022
Portland JSX Limited (PJX)
For the six months ended August 31, 2022:-
- Portland JSX Limited (PJX), for the six months ended August 31, 2022, reported Net gains on financial assets classified at fair value through profit & loss of US$920,949 compared to gains of US$4.66 million in 2021, for the second quarter the company reported a Net Loss on Financial assets of US$163,513 (2021: US$3.90 million gain).
- Interest income for the period increased by 6,276% amounting to US$57,446 (2021: $901). Interest income for the quarter grew to US$49,754 from US$488 in 2021.
- Dividend income from financial instruments at FVOCI was US$127,778 for the six month period (2021: nil). Dividend income for the quarter amounted to US$63,889 (2021: nil).
- PJX recorded six months Net foreign exchange losses of US$137,121 compared to a gain of US$13,302 in 2021. Foreign exchange loss for the quarter amounted to US$99,653 compared to a Foreign exchange gain US$56,366 in 2021.
- Operating Expenses, inclusive of accounting & audit Fees, directors, legal & management fees, administrative fees and other expenses decreased by 27% to US$326,469 (2021: US$445,445).
- Dividends paid to preference shareholders totalled $102,222 (2021: nil) while interest expense ended at US$163,680 (2021: US$178,145).
- PJX incurred no taxes for the six months ended August 31, 2022, as such the company recorded six months net profit of US$376,681 compared to US$4.05 million in 2021. The company reported a net loss of US$ 416,643 compared to a net profit of US$3.69 million in 2021.
- Earnings per share (EPS) for the six months period amounted to US$0.0012 (J$0.18) compared to an Earnings per Share of US$0.0131 (J$1.99) reported in 2021. Loss per share (LPS) for the second quarter amounted to US$0.0013 (J$0.20) compared to an earnings per share (EPS) of US$0.012 (J$1.81) in 2021. PJX’s trailing twelve months (TTM) earnings per shares equates to US$0.002 (J$0.35). The number of shares used in this calculation was 309,968,261. PJX’s stock price closed the trading period on October 14, 2022 at J$9.05 with a P/E ratio of 26.17x.
- As at August 31, 2022, PJX had total assets valued at US$41.85 million on its balance sheet compared to US$40.77 million reported in 2021. This growth resulted from a 3,708% increase in ‘Securities purchased under resale agreements’ to total US$10.10 million (2021: US$265,243).
- Total Stockholders’ equity closed at US$32.61 million compared to the US$31.85 million reported in 2021. This resulted in a book value per share of US$0.11 (J$15.94) compared to US$0.10 (J$15.63).
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