November 10, 2025
RADIO JAMAICA LIMITED(RJR)
Unaudited financials for the six months ended September 30, 2025:
RADIO JAMAICA LIMITED (RJR) for the six months ended September 30, 2025, reported an 8% decline in revenue, totalling $2.46 billion, compared to $2.69 billion for the corresponding period in 2024. Revenue for the second quarter decreased by 12%, closing at $1.31 billion versus $1.49 billion in Q2 2024.
Year to date, Direct expenses amounted to $1.15 billion (2024: $1.32 billion), reflecting a 13% reduction year-over-year. Consequently, gross profit fell by 4% to $1.31 billion, compared to $1.37 billion for the prior-year period. For the second quarter, gross profit was $709.17 million, down from $743.85 million in Q2 2024.
Administration expenses declined by 7% to $739.30 million (2024: $792.63 million), while selling expenses decreased by 13%, moving from $531.52 million in 2024 to $461.53 million in the review period. Additionally, Other operating expenses increased by 5% to $408.99 million (2024: $389.99 million). Total expenses for the six months ended September 30, 2025, amounted to $1.61 billion, a 6% decrease relative to $1.71 billion reported in 2024.
Operating loss for the six months was $237.56 million, an improvement of 13% compared to the $274.02 million loss in 2024. For the second quarter, the operating loss stood at $68.16 million (2024: $104.15 million).
Finance costs totalled $53.26 million, representing a 97% increase from $27.10 million in the prior year.
Loss before taxation for the six months amounted to $290.82 million, a 3% improvement over the $301.11 million loss reported in 2024. For the second quarter, the pre-tax loss was $96.00 million (2024: $118.06 million).
Taxation credit for the six months increased by 1% to $30.86 million (2024: $30.52 million).
As a result, the company recorded a net loss of $259.96 million for the six months, a 4% improvement from the $270.60 million loss in 2024. For the second quarter, the net loss was $79.50 million (2024: $103.12 million).
Net loss attributable to shareholders amounted to $253.23 million for the six months ended September 30, 2025.
Consequently, Loss Per Share for the six months amounted to $0.086 (2024: LPS: $0.089), while Loss Per Share for the quarter totaled $0.026 (2024: LPS: $0.034). The twelve-month trailing LPS was $0.21, and the number of shares used in these calculations was 3,023,506,931.
Notably, RJR’s stock price closed the trading period on November 07, 2025 at a price of $1.34.
Balance Sheet Highlights
The company’s assets totaled $5.67 billion (2024: $6.03 billion). The movement in total assets was primarily influenced by a 8% decrease in ‘Fixed assets’ amounting $2.98 billion (2024: $3.24 billion) . Notably, ‘Cash and Bank Balances’ stood at $430.52 million (2024: $138.77 million).
Shareholders’ equity was $3.12 billion (2024: $3.86 billion), representing a book value per share of $1.03 (2024: $1.28).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.
Company Disclosure -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.
