May 14, 2024
Figures are quoted in United States dollars (except where it is indicated otherwise):
Transjamaican Highway Limited (TJH), for the first quarter ended March 31, 2024, reported a 10% increase in Revenue to US$19.78 million relative to US$17.99 million in the corresponding period last year.
Other Gains and Losses amounted to US$1.23 million relative to Other Gains and Losses of US$140,000 for the comparable period in 2023.
Operating Expenses increased 10% to US$6.02 million (2023: US$5.49 million).
Administrative Expenses for the three months closed at US$2.33 million, a 13% increase from the US$2.06 million reported in 2023.
Finance Cost for the period closed at US$3.52 million relative to US$3.66 million in 2023, a 4% decrease year over year.
Profit Before Tax closed at US$9.13 million versus Profit Before Tax of US$6.65 million for the first quarter ended March 31, 2024.
Taxation for three months ended March 31,2024, amounted to US$2.22 million (2023: US$1.67 million). As such, net profit increased by 39% to US$6.91 million (2023: US$4.98 million).
Consequently, Earnings Per Share for the three months amounted to J$0.09 (2023: EPS: J$0.06). The twelve month trailing EPS was J$0.32 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 14, 2024 at a price of J$3.18 with a corresponding P/E ratio of 9.92x.
Balance Sheet Highlights
The company’s assets totalled US$292.34 million (2023: US$291.76 million).
Shareholder’s equity was US$48.38 million (2023: US$44.97 million), representing a book value per share of J$0.60 (2023: J$0.54).
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