August 8, 2024
Figures are quoted in United States dollars (except where it is indicated otherwise):
Trans Jamaican Highway Limited (TJH), for the six months ended June 30, 2024, reported a 9% increase in Revenue to US$39.65 million relative to US$36.21 million in the corresponding period last year. Revenue for the second quarter amounted to US$19.87 million (2023: US$18.22 million), a 9% increase.
Other Gains and Losses amounted to US$1.95 million relative to Other Gains and Losses of US$782,000 for the comparable period in 2023. Whereas, for the quarter, Other Gains and Losses totalled US$726,000 relative to the US$922,000 in 2023.
Operating Expenses increased 4% to US$11.37 million (2023: US$ 10.96 million). While Administrative Expenses for the period closed at US$4.79 million, a 18% increase from the US$4.06 million reported in 2023.
Finance Cost for the period closed at US$6.98 million relative to US$7.31 million in 2023, a 4% decrease year over year.
Profit Before Tax closed at US$18.46 million versus a Profit Before Tax of US$14.67 million for the six months ended June 30, 2024. TJH reported a Profit Before Tax of US$9.33 million versus a Profit Before Tax of US$8.02 million for the second quarter of 2024.
The Company reported Taxation of US$4.54 million (2023: US$3.67 million), resulting in a Net Profit of US$13.92 million relative to a Net Profit of US$11.01 million in 2023. Net Profit for the quarter amounted to US$7.01 million relative to a Net Profit of US$6.03 million in 2023.
Consequently, Earnings Per Share for the six months amounted to J$0.17 (2023: EPS: J$0.14), while Earnings Per Share for the quarter totalled J$0.09 (2023: EPS: J$0.07). The twelve month trailing EPS was J$0.34 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 07, 2024, at a price of J$3.09 with a corresponding P/E ratio of 9.17x.
Balance Sheet Highlights
The company’s assets totalled US$289.68 million (2023: US$295.57 million). The most notably the reason for this decline in our assets can be drawn from our decrease in Deferred Tax Assets which closed at US$13.19 million compared to last year’s US$17.54 million.
Shareholder’s equity was US$55.37 million (2023: US$51.00 million), representing a book value per share of J$0.69 (2023: J$0.63).
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