A six percent rise in revenues in the first nine months of 2025 melted down to a modest 1.3 percent for Stationery & Office Supplies (SOS) for the year, to $1,866 million, over $1.843 billion recorded in 2024, following the negative impact on sales caused by the impact of Hurricane Melissa in the last quarter.
While the top line held up well, supported by a 50 percent surge in export sales across the Caribbean region and strong growth from the EVOLVE furniture line, the bottom line came under considerable pressure, partially affected by the impact from the hurricane and lower margins from exports.

Stationary & Office Supplies – Montego Bay office.
Gross profit for the year came in at $953 million, down 5.5 percent from $1.01 billion in the prior year. The gross profit margin narrowed from 54.7 percent to 51.1 percent, reflecting higher shipping and input costs that the company chose to absorb, as well as the lower-margin profile of the growing export business. Cost of sales rose to $913 million from $835 million, a 9.4 percent increase that meaningfully outpaced revenue growth.
Administrative and general expenses climbed 7.2 percent to $612 million, driven largely by a 9.5 percent increase in staff costs as the workforce expanded from 162 to 170 employees and management remuneration that rose to $142 million. Selling and promotional expenses were essentially flat at $154 million, while depreciation and amortisation held steady at $45 million. Total expenses for the year reached $828 million compared to $785 million in 2024, a 5.5 percent increase.
Operating profit fell sharply to $137 million from $228 million in 2024, a decline of approximately 40 percent. Net finance income of $11 million and foreign exchange gains of $10 million, resulted in pre-tax profit for the year of $160 million, down 35 percent from $247 million in the prior year. The effective tax rate was approximately 17.4 percent, after accounting for a 50 percent tax remission as a Junior Market listed company. Net profit after tax amounts to $133 million, well below $223 million in 2024, a fall of 40 percent.
Earnings per share for the full year was 6 cents, down from 10 cents in 2024. The company paid dividends of $45 million during the year, representing 2 cents per share, the first dividend distribution since 2023.
Fourth Quarter 2025
The fourth quarter was severely disrupted by Hurricane Melissa, with Revenues declining by 14 percent to $377 million, from $437 million in the same period of 2024. Gross profit collapsed by around 50 percent to roughly $105 million as storm-related inventory losses at the Montego Bay warehouse and reduced trading activity weighed heavily on results. Expenses for the quarter declined 11 percent to approximately $183 million as the company curtailed discretionary spending. The net result was a pre-tax loss of approximately $6 million for the quarter, compared to a pre-tax profit of $15 million in Q4 2024, a swing of $21 million. The quarterly EPS was aa loss of 0.2 cents.
Segment Performance
The Furniture segment remained the powerhouse of the business, generating revenues of $1.35 billion in 2025, up 9.6 percent from $1.23 billion in 2024, with a gross profit of $760 million and a segment gross margin of 56.4 percent. The Book segment, representing the SEEK brand, saw revenues decline sharply to $76 million from $106 million, with gross profit falling to just $6 million from $27 million, reflecting both hurricane disruption and the pre-commissioning stage of the new factory. Stationery and other supplies posted revenues of $441 million, down 13 percent from $506 million, generating a gross profit of $187 million at a margin of 42.4 percent.
The company had an official opening for the Seek factory a week ago, with reports that it elicited some fresh orders and increased interest in the products that are manufactured. As the leading player in the office and stationery business smaller players who may want to exit the business will most likely look to them to be acquired. This is an ever present possibility, so investors should not be surprised if there are such developments in the future that could push revenues and profit.
Balance Sheet
urrent assets at year end stood at $1.06 billion, with current liabilities of only $358 million, with a net current asset of $701 million, a modest improvement from $687 million in 2024. Cash and equivalents rose 15 percent to $382 million from $332 million. Inventories grew 4.5 percent to $416 million. Shareholders‘ equity increased to $1.64 billion from $1.55 billion, with a net asset value per share of 73 cents. Long-term borrowings, totalled $17 million, down from $27 million.
The company generated gross operating cash of $201 million, after favourable working capital movements and tax and interest payments, net operating cash flow was $215 million, ahead of the $187 million generated in 2024. Capital expenditure consumed $114 million, primarily on the SEEK factory build-out, motor vehicles and computer equipment. Financing outflows of $69 million included the dividend payment, lease repayments and loan servicing. The net increase in cash for the year was $50 million.
ICInsider.com projects earnings per share for 2026 at 15 cents at a PE ratio of 12.3 times earnings at $1.85 the stock last traded at on Thursday. This compares to the Junior Market average of 15.6 currently. At the close of trading on Thursday supply of the stock for sale has dried up with only 7 offers of 149,000 share for sale. Watch this stock that could deliver a 50 percent gain or more for the year.
The market closed with trading of 16,001,765 shares for $15,955,173, after rising from 9,681,842 units at $12,581,625 on Wednesday.
At the close of trading, the Junior Market Index rose by 17.02 points to 3,382.01. The Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and one with a lower offer.
Indies Pharma advanced 5 cents in closing at $2.90 after a transfer of 39,550 stocks, Iron Rock Insurance dropped 5 cents to finish at $2.60 with traders dealing in 100 units. Knutsford Express shed 25 cents to end at $9.25 with 1,903 stock units crossing the market, Paramount Trading rose 12 cents to $1.17 in trading 1,100 shares, Regency Petroleum gained 9 cents and ended at $4.59 with 35,345 stock units clearing the market. Spur Tree Spices lost 8 cents to finish at $1 with investors swapping 79,370 shares and Stationery and Office Supplies rallied 20 cents to $1.85 with a transfer of 82,456 stocks.
At the close of the market, the JSE Combined Market Index sank by 1,426.12 points to 353,643.30, the All Jamaican Composite Index dropped 2,176.97 points to finish at 405,589.08, the JSE Main Index declined by 1,620.11 points to end at 344,467.04. The Junior Market Index rose 17.02 points to settle at 3,382.01 and the JSE USD Market Index increased by 7.17 points to conclude trading at 271.12.
In the preference segment, Jamaica Public Service 9.5% rallied $111 to close at $2,500, 138 Student Living preference share climbed by $30 to $234, Productive Business Solutions 10.5% climbed $4.30 in closing at $1,154 and Sygnus Credit Investments 10% increased $11 to end at $109.
The market ended following an exchange of 9,681,842 shares for $12,581,625, in sliding from 15,013,414 units at $20,901,682 on Tuesday.
At the close of trading, Access Financial climbed by 29 cents to $17.76 with investors trading 3,702 shares, AMG Packaging popped 17 cents to end at $2.18 with 7,772 stocks crossing the market, Blue Power declined by14 cents to $3.90 with a transfer of 286 shares. Cargo Handlers increased $1.94 to finish at $18.50 with investors swapping 5,013 stocks, Caribbean Cream rose by 5 cents to $1.80 with traders switching ownership of 799 units, Dolla Financial sank 11 cents to close at $2.49 with traders dealing in 785,810 stocks. Elite Diagnostic rose 14 cents to $1.51 as investors exchanged 2,100 units, Everything Fresh rallied 22 cents to close at $2.32 following trading of 1,000 shares, Future Energy gained 5 cents and ended at $3.76 with investors dealing in 440,650 stock units. GWest Corporation dropped 10 cents in closing at 80 cents with 160,060 shares crossing the exchange, Indies Pharma sank 10 cents to finish at $2.85 with investors trading 1,161,685 stock units, Iron Rock Insurance skidded 5 cents to end at $2.65 with 100 stocks clearing the market.
ISP Finance lost 15 cents to $12 after hitting a low for the day of $10, with an exchange of 6,385 stock units, Knutsford Express declined 45 cents to end at $9.50 with 1,367 shares crossing the market, Lasco Financial popped 8 cents in closing at $1.97 in trading 101,067 shares. Limners and Bards shed 8 cents and ended at 84 cents after an exchange of 234,994 stock units, Mailpac Group rallied 13 cents to close at $2.79 with 2,386 units changing hands, Main Event rose 5 cents to $6.49 after an exchange of 1,536 stocks. MFS Capital Partners climbed 5 cents and ended at 56 cents with 10,444 units passing through the market, Omni Industries dipped 5 cents to 94 cents with an exchange of 183,546 shares, Regency Petroleum slipped 8 cents in closing at $4.50, with investors swapping 10,999 stock units. Spur Tree Spices increased 5 cents to $1.08 in an exchange of 5,010 shares and Stationery and Office Supplies fell 10 cents to end at $1.65 after a transfer of a mere 1,771 stock units.
At the close of the market, the JSE Combined Market Index fell 307.31 points to 355,069.42, the All Jamaican Composite Index dropped 1,079.04 points to settle at 407,766.05, the JSE Main Index rallied a mere 7.44 points to wrap up trading at 346,087.15, the Junior Market Index shed 43.65 points to close at 3,364.99 and the JSE USD Market Index rose 1.80 points to 263.95.
At the close of trading, the market’s PE ratio ended at 14.9, computed using projected 2026-27 earnings and 15.8 based on 2025 earnings excluding major one-time income or expense. The PE ratio is one of the most popular measures used for valuing shares and is calculated by dividing the stock price by the company’s earnings per share. ICInsider.com PE ratio chart and the detailed daily charts provide investors with regularly updated information to assist decision-making. The PE ratio chart includes all ordinary shares listed on the Jamaica Stock Exchange, grouped by industry, with easy comparisons within sectors and the overall market.
The market closed with trading of 15,013,414 shares for $20,901,682, down from 17,994,569 stock units at $24,916,920 on Monday.
The Junior Market ended trading with an average PE Ratio of 15.1, derived by dividing the last traded price of a stock by the earnings per share. ICInsider.com compiles the PE ratios in this report for companies with their fiscal year ending around August 2026.
At the close of the market, the JSE Combined Market Index fell 684.22 points to 355,376.73, the All Jamaican Composite Index gained 424.09 points to end at 408,845.09, the JSE Main Index dropped 1,132.37 points to 346,079.71, the Junior Market Index popped sharply higher with a 55.28 points jump to end at 3,408.64 and the JSE USD Market Index fell 0.35 points to settle at 262.15.
At the close of trading, the market’s PE ratio ended at 15, based on the projection for 2026-27 earnings and 16 complied, using 2025 earnings, and excludes any major one-time income or expense. The PE ratio is one of the most popular measures used for valuing shares and is calculated by dividing the stock price by the company’s earnings per share. The ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to assist decision-making. The PE ratio chart includes all ordinary shares listed on the Jamaica Stock Exchange, grouped by industry, with easy comparisons within sectors and the overall market.
At the close of the market, the JSE Combined Market Index rallied just 379.93 points to 356,060.95, the All Jamaican Composite Index climbed by 1,075.30 points to 408,421.00, the JSE Main Index gained 473.58 points to 347,212.08, the Junior Market Index shed 10.10 points to wrap up trading at 3,353.36 and the JSE USD Market Index declined 2.93 points to finish at 262.50.
In the preference share segment, Jamaica Public Service 7% rose $6.85 to $43, 138 Student Living preference share declined $26 in closing at $199 and Sygnus Credit Investments 10% sank $15.09 to $93.
The market closed with trading of 17,994,569 shares, up 16 percent over Friday’s trade of 15,546,356 units, with the value slipping from $27,162,207 on Friday to finish at $24,916,920.
The Junior Market ended trading with an average PE Ratio of 14.4, derived by dividing the last traded price by the earnings per share. ICInsider.com compiles the PE ratios in this report for companies with their fiscal year ending around August 2026.
Everything Fresh increased 38 cents in closing at $2.10 with an exchange of 198,557 shares, Express Catering rallied 6 cents to close at $2.50 after a transfer of 43,020 stocks, GWest Corporation rose 6 cents to end at 83 cents as investors exchanged 46,148 units. Indies Pharma dropped 7 cents in closing at $2.88, with the trading of 73,326 stock units, ISP Finance fell $1.74 to $10.75, with 1,212 shares crossing the market, Jamaican Teas gained 5 cents to end at $2.60 in switching ownership of 234,486 stocks. Jetcon Corporation dipped 24 cents to close at $2.56 with investors trading 44,103 units, JFP popped 5 cents and ended at 45 cents, with 11,045 stock units crossing the market, KLE Group sank 5 cents to finish at 90 cents with a transfer of 1,301 shares. Knutsford Express declined 99 cents and ended at $9, with 13,024 units changing hands, Lasco Financial rallied 17 cents to $1.97 with an exchange of 368,044 stocks, Mailpac Group increased 6 cents in closing at $2.66 following trading of 835,272 stock units. Medical Disposables shed 18 cents to close at 52 weeks low
The market closed with trading of 15,546,356 shares for $27,162,207, up from 10,344,107 stock units at $13,309,078 on Thursday.
At the close of trading, Access Financial shed 11 cents to finish at $17.66, with 490 shares crossing the market, AMG Packaging rose 24 cents to $2.20 with an exchange of 1,358 stocks, Atlantic Hardware fell 19 cents to $1.60 with 629,599 shares traded. Blue Power popped 15 cents to end at $3.85 after a transfer of 1,309 units, CAC 2000 gained 6 cents in closing at $1.57, with 529 stock units crossing the exchange, Cargo Handlers dipped 14 cents and ended at $18.37 in trading 500 units. Caribbean Flavours rose 5 cents to $1.63 and closed with an exchange of 24,276 stocks, Derrimon Trading climbed 20 cents to close at $1.83 after trading of 2,175,065 shares, Dolla Financial lost 22 cents in closing at $2.40 with investors trading 221,911 stock units. Dolphin Cove slipped 32 cents to finish at $10.61, with 14,164 shares changing hands, Everything Fresh sank 30 cents and ended at a 52 weeks low of $1.72 with investors swapping 46,314 units, Express Catering increased 28 cents to end at $2.44 after 13,500 stocks passed through the market. Fosrich rallied 18 cents in closing at $2.19 with traders dealing in 2,034,172 stock units, Future Energy popped 22 cents to $3.94 after an exchange of 167,774 shares, Image Plus rallied 6 cents to finish at 81 cents with investors dealing in 45,500 units.
Jamaican Teas increased 33 cents and ended at $2.55 in an exchange of 1,798,194 stocks, Jetcon Corporation climbed 5 cents to end at $2.80, with 90,891 stock units crossing the market, KLE Group rose 9 cents to close at 95 cents in trading 21 shares. Knutsford Express advanced 59 cents to $9.99 with a transfer of 94 units, Lasco Financial gained 29 cents to close at $1.80 as investors exchanged 119,971 stocks, Lumber Depot rose 29 cents to finish at $2.74 in switching ownership of 1,011,820 stock units. MFS Capital Partners advanced 6 cents and ended at 43 cents with investors trading 9,436 shares, ONE on ONE Educational popped 9 cents in closing at 95 cents in an exchange of 957,355 stocks and Stationery and Office Supplies rallied 15 cents to end at $1.70 with investors trading 3,050,900 units, following the official opening of the Seek factory and warehouse during the morning session.