Transjamaican Highway (TJH) reported record revenues of $65 million for 2022, up 12.3 percent from $52.76 million generated in 2021, resulting in profit of $9.3 million before the one off cost, up a solid 74 percent above the $5.34 million generated in 2021.
The company reported a loss of US$7 million for 2022 after tax and after factoring in a onetime loss of US$13.7 million resulting from the acquisition of the major share of Jamaica Infrastructure Operators, the loss compares with a profit of $4 million in the previous year.
The above acquisition “will result in future cost savings, expected to significantly reduce Operating Expenses by more than 50 percent or US$12 million per annum and increase our profitability,” the directors informed shareholders in their commentary on the results. ICInsider.com projects earnings of 0.016 US cents per share or J$0.24, giving it a PE of 7 and a target price of J$4.50.
In addition, it is worth noting that the vast majority of costs are more or less fixed, with Amortization of intangible assets amounting to $13.7 million, up from $12.3 in 2021, finance cost slipped slowly to $14.7 million in 2022 from $15.3 million in 2021. Operators fixed fees amounted to $17.7 million, up from $16.4 million but will drop in 2022, now that TJH owns the operating company. The company has been selected as the operator for the May Pen to Mandeville leg of Highway 2000, which will add to future revenues and profits.
In their commentary of the full year results, the company directors stated that “traffic since the advent of Covid19 has fully recovered and was approximately 7 percent above our 2019 pre-covid levels and 13 percent above the 2021 traffic”.
Gross cash flow brought in $10 million but with growth in receivables, inventories, addition to fixed assets offset by loan payment of $6.6 million, increased payables and paying $7 million dividends, the company ended with a net outflow of $1.3 million and closed with $5.4 million in cash funds.
At the end of December, shareholders’ equity stood at $40 billion or $3.20 per share—long term borrowings at $224 million and short term at $10 million. Current assets ended the period at $6.3 million, which comprises mostly the above cash and bank balance. Current liabilities ended the period at $16.5 million. Net current assets ended with a negative amount of $10 million.
All amounts are in US dollars unless otherwise stated.
A total of 9,481,950 shares were traded for $117,605,489 versus 20,316,713 units at $95,105,433 on Thursday.
The PE Ratio, a formula used to compute appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios are computed based on the last sale prices of stocks and earnings forecasted by ICInsider.com for companies with the financial year ending between November 2022 and August 2023.
Massy Holdings lost $2.75 to close at $85.25, with 214,948 shares clearing the market, Pan Jamaica Group advanced $3.79 to end at $56.79 with investors trading 2,692 stocks, Proven Investments gained 66 cents in closing at $26.50 after an exchange of 1,150 shares, Seprod fell $1 to $69 in swapping 4,703 stocks, Supreme Ventures rallied 89 cents to end at $27.89 with investors transferring 50,497 units and Sygnus Real Estate Finance rose 70 cents in closing at $10 with an exchange of 2,000 stock units.
In the preference segment, Jamaica Public Service 7% gained $3.35 after ending at $39 as investors exchanged 1,000 shares and Jamaica Public Service 9.5% dipped $150 to close at $2850 in trading 15 stock units.
Overall, 1,282,434 shares were exchanged for US$220,084 compared with 131,288 units at US$26,722 on Thursday.
Margaritaville gained 1.47 cents to end at 11.47 US cents after 8 stock units were swapped, Proven Investments gained 0.12 of a cent in closing at 16.2 US cents after 1,273,352 stock units were traded, Sterling Investments popped 0.01 of a cent in ending at 2.01 US cents in exchanging 474 units and Transjamaican Highway fell 0.01 of a cent to end at 1.29 US cents, with 5,000 stock units changing hands.
Investors traded 3,670,324 shares for $9,384,503 down from 6,971,908 units at $15,464,261 on Thursday.
The PE Ratio, a measure of computing appropriate stock values, averages 11.6. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
EduFocal climbed 14 cents to $2.19 in switching ownership of 3,000 units, Elite Diagnostic fell 6 cents to end at a 52 weeks’ low of $2.40 with the swapping of 221,031 stock units, Honey Bun gained 32 cents in closing at $6.57, with 33,555 units crossing the market, Iron Rock Insurance increased 6 cents to end at $2.26 trading 3,932 stocks, Jamaican Teas rose 6 cents to $2.09 with investors transferring 132,792 shares, Lasco Financial lost 9 cents to close at $2.40 with an exchange of 2,247 stocks, Main Event increased 80 cents after ending at a record closing high of $14.70 with 51,499 shares changing hands, MFS Capital Partners climbed 23 cents to $3.19 after a transfer of 466,106 stock units, 
Stationery and Office Supplies gained 50 cents to close at $15 while exchanging 9,020 units and Tropical Battery rallied 6 cents to $1.94 after an exchange of 224,231 shares.
Trading ended with the JSE Combined Market Index rallying 448.42 points to 344,198.94. The All Jamaican Composite Index rose 1,723.12 points to 374,094.82, the JSE Main Index gained 275.40 points to conclude trading at 331,860.65, while the Junior Market Index climbed 20.92 points to 3,774.36 and the JSE USD Market Index popped 3.79 points to finish at 243.29. Shares in the preference segment of the Main Market that are not included in the TOP10 graphs had JPS 9.5 percent plummeting $150 to $2,850 while the JPS 7 percent rose $3.35 to $39.
The market’s PE ratio ended at 19.2 on 2022-23 earnings and 12.6 times those for 2023-24 at the close of trading.
Dividends that are payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that also show the closing volume pertaining to the bids and offers for each company.
Response: “All shares held by investors at the JCSD are held under the account of a Broker Participant. To purchase or sell shares, an investor goes through their broker, the same applies if they desire to transfer their shares applies. Since the shares are held under the account of SSL, in this instance, the JCSD cannot transfer securities without their concurrence.”
A total of 20,316,713 shares were traded for $95,105,433 compared to 19,169,248 units at $107,354,551 on Wednesday.
the JSE Main Index climbed 275.12 points to close at 331,585.25 and the JSE Financial Index increased 0.15 points to settle at 76.24.
JMMB Group climbed 74 cents in closing at $31.48 with swapping of 37,477 stocks, Kingston Properties shed 84 cents to end at $6.51 in an exchange of 5,231 units, Kingston Wharves advanced $1.11 to close at $32.11, with 3,358 shares crossing the market, Massy Holdings lost $3 to end at $88 after exchanging 2,776 units, NCB Financial rallied $1 in closing at $72.50 with an exchange of 21,741 stock units, Pan Jamaica Group dropped 90 cents to close at $53 after an exchange of 176,780 stocks, Sagicor Group popped $1 to $50 in an exchange of 8,988 stock units, Seprod increased $3 after ending at $70 with a transfer of 4,187 stocks, Supreme Ventures gained 50 cents after ending at $27 with 9,242 shares crossing the exchange and
Wisynco Group increased 56 cents in closing at $17.34 while exchanging 20,623 units.
Investors exchanged a total of 6,971,908 shares for $15,464,261, compared to 11,018,178 units at $34,448,601 on Wednesday.
The PE Ratio, a measure of computing appropriate stock values, averages 11.5. The PE ratios of Junior Market stocks are computed based on the last traded stock price and ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Fontana rallied 17 cents to end at $8.32 in trading 34,738 units. Fosrich dropped 9 cents in closing at $2.64 after trading 346,736 stocks, Honey Bun lost 7 cents to end at $6.25 in switching ownership of 2,208 shares, iCreate rose 7 cents to close at $1.59 after exchanging 165,128 shares. Knutsford Express rallied 69 cents after ending at $11.69 in an exchange of 12 units, Lasco Distributors climbed 21 cents to close at $2.40 as investors exchanged 12,727 stock units, Lasco Manufacturing increased 14 cents in closing at $4.14 in an exchange of 388 stocks. Limners and Bards declined 12 cents to end at $2.22, with 33,460 units crossing the market, Lumber Depot declined 8 cents after ending at $2.41 while exchanging 13,855 stocks, Main Event rallied 63 cents to $13.90, with 26,278 stock units changing hands. 
MFS Capital Partners dropped 35 cents to $2.96, with 874,948 shares crossing the exchange and Regency Petroleum shed 8 cents to close at $2.41 but only after hitting an intraday 52 weeks’ high of $2.58, with a transfer of 577,333 stocks.
A total of 131,288 shares were traded for US$26,722 compared with 1,049,056 units at US$18,330 on Wednesday.
At the close of trading the JSE Combined Market Index rose 466.19 points to close at 343,750.52, the All Jamaican Composite Index surged 2,484.10 points to 372,371.70, the JSE Main Index popped 275.12 points to 331,585.25, while the Junior Market Index rose 22.89 points to 3,753.44 and the JSE USD Market Index dipped 3.57 points to 239.50.
The market’s PE ratio ended at 18.9 on 2022-23 earnings and 12.4 times those for 2023-24 at the close of trading.
Dividends that are payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that also show the closing volume pertaining to the bids and offers for each company.
