May 12, 2025
Transjamaican Highway Limited (TJH)
Unaudited financials for the first quarter ended March 31, 2025:
Transjamaican Highway Limited (TJH), for the first quarter ended March 31, 2025, reported a 14% increase in Revenue to US$22.51 million relative to US$19.78 million in the corresponding period last year. This was driven by continued growth in toll collections, reflecting strong traffic volumes and effective operational management.
Other Gains and Losses amounted to US$862,000 relative to Other Gains and Losses of US$1.23 million for the comparable period in 2024.
Operating Expenses decreased by 9% to US$5.45 million (2024: US$6.02 million).
Administrative Expenses for the three months closed at US$2.50 million, a 7% increase from the US$2.33 million reported in 2024.
Finance Cost for the period closed at US$3.34 million relative to US$3.52 million in 2024, a 5% decrease year over year.
Profit Before Tax closed at US$12.08 million versus a Profit Before Tax of US$9.13 million for the first quarter ended March 31, 2025.
Tax charge amounted to US$3.01 million (2024: US$2.22 million). As such, Net profit increased by 31% to US$9.07 million relative to US$6.91 million in 2024.
Consequently, Earnings Per Share for the three months amounted to J$0.11 (2024: EPS: J$0.09). The twelve-month trailing EPS was J$0.42 and the number of shares used in these calculations was 12,501,000,000.
Notably, TJH’s stock price closed the trading period on May 9, 2025, at a price of $3.72 with a corresponding P/E ratio of 8.77x.
Balance Sheet Highlights
The company’s assets totalled US$300.93 million (2024: US$292.34 million). The movement in total assets was influenced by a US$26.52 million uptick in ‘Restricted asset’, while ‘Intangible assets’ and ‘Deferred tax assets’ declined by US$13.42 million and US$6.23 million, respectively, partly offsetting the movement during the period.
Shareholder’s equity was US$64.32 million (2024: US$48.38 million), representing a book value per share of J$0.81 (2024: J$0.60).
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