Portland JSX Limited (PJX)

January 15, 2018

PJX, for the nine months ended August 31, 2017, booked net gain on financial assets classified as at fair value through profit and loss of US$693,335 compared to US$745,947 last year.  For the three months, net gain on financial assets classified as fair value through profit amounted to US$668,158 (2016: $311,887).

Interest income amounted to US$165,177, a 23% year over year increase, while the interest income from distribution of partnership closed at $3,695 compared to US$350,399 reported last year.  Other income of US$98 was reported for the period while it was NIL for 2016.  The company did not record interest expenses for the period under review relative to US$260,068 reported in 2016.

Administrative and general expenses amounted to US$579,697 for the period, a 55% decline year over year (2016: US1,295,444) while for the three months, administrative expenses closed at US$190,262, an increase of 63% (2016: US$1,137,488).

Pretax profit for the period totaled $US282,608 compared to loss of US$246,031 reported last year. For the three months, pretax profit was reported at US$524,384, this compared to loss reported in 2016 of US$699,365.

After taxation of US$306, net profit closed at $282,302 for the period (2016: net loss of US$246,031).

Earnings per share (EPS) amounted to US0.091 cents (J$0.11) for the nine months and US0.169 cents (J$0.21) for the three months. The 12-month trailing loss per share is US0.34 cents. The number of shares used in this calculation was 309,968,261 units. PJX stock price closed the trading period at $10.70 on January 15, 2018.

 Balance Sheet Highlights:

As at November 31, 2017, PJX recorded total assets of US$24.1 million compared to US$25.2 million reported in 2016. The major changes in assets included the decline in Cash and short-term deposits of US$14.65 million in during the nine-month period to total US$2.88 million.

Total Stockholders’ equity as at November 30, 2017, closed at US$24.05 million a 4.23% decline to the US$25.23 million reported in 2016. This resulted in a book value of US$0.08 (J$9.78) per share.



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