August 11, 2023
Unaudited financials for the six months ended June 30, 2023:
Transjamaican Highway Limited (TJH), for the six months ended June 30, 2023, reported a 20% increase in revenue to US$36.21 million relative to US$30.29 million in the corresponding period last year. Revenue for the second quarter amounted to US$18.22 million (2022: US$15.41 million), an 18% increase year over year.
Other Gains amounted to US$782,000 relative to Other Gains of US$54,000 for the comparable period in 2022. Whereas for the quarter, Other Gains totalled US$922,000 relative to the US$43,000 in 2022.
Operating Expenses decreased 43% to US$10.96 million (2022: US$ 19.24 million). While Administrative Expenses for the period at US$4.06 million, a 513% increase from the US$662,000 reported in 2022.
Finance Cost year to date closed at US$7.31 million relative to US$7.43 million in 2022, a 2% decrease year over year.
Net Profit Before Tax clsoed at US$14.67 million versus a net profit before tax of US$3.02 million for the six months ended June 30, 2022. For the Quarter, TJH reported a Net Profit Before Tax of US$8.02 million versus a Net Profit Before Tax of US$1.87 million for the same quarter of 2022.
The Company reported Taxation of US$3.67 million (2022: US$986,000), resulting in a net profit of US$11.01 million relative to a Net Profit of US$2.03 million in 2022, a 442% increase. Net Profit for the quarter amounted to US$6.03 million relative to a Net Profit of US$1.36 million in 2022.
Consequently, Earnings Per Share for the six months amounted to J$0.14 (2022: EPS: J$0.02), while Earnings Per Share for the quarter totaled J$0.07 (2022: EPS: J$0.02). The twelve-month trailing EPS was J$0.02 and the number of shares used in these calculations was 12,501,000,000.
Notably, TJH’s stock price closed the trading period on August 11, 2023 at a price of $2.52 with a corresponding P/E ratio of 111.00x.
Balance Sheet Highlights
The company’s assets totalled US$295.35 million (2022: US$308.89 million). This reduction was mainly due to a US$13.82 million in intangible assets.
Shareholder’s equity was US$51.00 million (2022: US$56.16 million), representing a book value per share of J$0.694 (2022: J$0.681).
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