Portland JSX Limited (PJX) reports a 241% increase in Net Profit.
(All figures in US Dollars unless otherwise stated.
Portland JSX Limited (PJX) for the three months ended May 31, 2017, reported a net gain on financial assets classified as at fair value through profit or loss for the 2017 first quarter closing the quarter at $223,364, compared to $67,528.
Interest Income from loans increased by 78.02% from $58,942 to $104,927 and the Company also recorded $98 in Other Income. Administrative and General Expenses increased significantly year on year, to $195,413 (2016/2017: $87,539), an increase of 123%.
Consequently, once all items are considered, Profit for the Period being Total Comprehensive Income increased by $93,739 or 241% to $132,670. Earnings per share for the period in review totaled $0.000428 (J$ 0.06) relative to a Earnings per share of $0.000126 (J$ 0.02) year over year.
Balance Sheet Highlights:
As at May 31, 2017, the Company reported total assets of $23.92 million, a 72% increase when compared to $13.87 million in the prior year. Shareholders’ Equity as at May 31, 2017 was $25.68 million (2016: $14.10 million) and resulted in a book value per share of $0.08 (J$ 10.03) compared to $0.04 (J$ 5.59) the prior year.
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