RJR posts year end net loss of $41.79 million

June 1, 2018

Radio Jamaica Limited (RJR) for the year ended March 31, 2018 recorded revenues of $5.05 billion, 4% lower than the$5.23 billion booked for the prior year. The quarter had a 3% decrease to $1.17 billion (2017: $1.20 million).

Direct Expenses fell by 2% to $2.51 billion relative to $2.56 million for the same period in 2018. As a result, Gross Profit dipped by 5% to $2.54billion relative to last year’s $2.67 billion.

The Company had a 1% increase in total Operating Expenses to $2.65billion when compared to $2.63 billion posted for the previous year. This was mainly attributed to a 2% increase in other Operating Expenses to $770.60 million versus $752.92 million a year earlier.  Selling Expenses closed the year at $745.82million, 4% lower than last years $773.48 million. Administration Expenses rose 3% to $1.14 billion (2017: $1.11 million).

Other Income amounted to $132.09 million (2017: $218.41 million) representing a 40% decline year over year. Consequently, Operating Profit for the year deteriorated to $19.08 million relative to a profit of $259.43 million.

Finance costs had a 20% increase moving to $47.56 million (2017: $39.64 million) for the year.

As a result, Loss before Tax totaled $28.48 million, this compares to a profit of $219.80 million recorded last year. Tax charges of $13.31 million were recorded for the year, while it amounted to $75.57 million in 2017.

Net loss for the year was reported at $41.79 million relative to a Net Profit of $145.23 million booked in 2017.  Net Loss for the quarter amounted to $85.57 million compared to a loss of $64.52 million booked last year.

Loss per share (LPS) for the year amounted to $0.02 versus a EPS  of $0.06 booked in the prior year, while for the quarter LPS totaled $0.035 compared to $0.027 in 2017. The number of shares used in our calculations is 2,422,487,654 units. The Company’s stock price closed the trading period on May 31, 2018 at $1.29

Total Comprehensive Loss amounted to $149.46 million relative to an income of $225.59 million for 2017.

Balance Sheet Highlights:

As at March 31, 2018, the Company reported total assets of $3.82billion, 1% less when compared to $3.85 billion in the prior year. notably, investment securities fell to $159.17 million compared to $486.52 million recorded a year earlier.

Shareholders’ Equity as at March 31, 2018 was $2.40 billion compared to $2.60 billion for the prior year. This resulted in a book value per share of $0.99 compared to $1.07 a year ago.


The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any Action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.