PJAM reports 2% increase in net profit attributable to shareholders for the year ended December 2017.

March 12, 2018

PanJam Investment Limited (PJAM) for the year ended December 31, 2017, reported a 38% increase in total income to total $2.41 billion relative to $1.74 billion booked for the prior year’s corresponding period. For the quarter, total income increased 87% to $821.15 million (2016: $439.69 million).  Of total income:

  • Other income increased 122% or $84.25 million from $69.28 million to $153.53 million.
  • Investments rose 77% to close at $422.70 million (2016: $239.33 million).
  • Income from commissions amounted to $49.76 million a 3% decline compared to the $51.55 million reported in 2016.
  • Property income amounted to $1.79 billion, up 29% year over year.

Operating expenses amounted to $1.48 billion for the year ended December 31, 2017 (2016: $1.31 million), 12% more than its total a year prior. Operating expenses for the quarter increased 13% to close at $426.21 million (2016: $377.50 million).

Consequently, operating profits increased by 117% to a total of $937.86 million relative to $431.23 million a year earlier, while for the quarter operating profit increased 535% to $394.94 million (2016: $62.18 million).

Finance costs for the period rose by 14%, amounting to $599.92 million compared to the $528 million for the comparable period in 2016.

Profit before taxation declined 4%, closing the period at $4.27 billion (2016: $4.45 billion). This was due to a gain on disposal of an associated company of $851.08 million recorded in 2016.  Following taxation of $79.33 million (2016: $99.85 million), Net Profits amounted to $4.19 billion (2016: $4.35 billion). Net profit for the quarter amounted to $1.18 billion compared to $1.14 billion booked in 2016.

Net Profit Attributable to Shareholders for the period amounted to $4.13 billion, a 2% increase over the $4.05 billion recorded the year prior. For the fourth quarter, profit attributable to shareholders amounted to $1.16 billion a 1% increase relative to $1.14 billion recorded in 2016.

Consequently, earnings per share for the period amounted to $3.87 (2016: $3.80), while earnings per share for the quarter amounted to $1.09 (2016: $1.07). The number of shares used in the calculation is 1,066,159,890 units. Notably, PJAM’s stock price closed the trading period on March 12, 2018 at a price of $41.17

Balance Sheet at a glance:

As at December 31, 2017, PanJam Investment Limited (PJAM) had assets totaling $39.35 billion, a 21% increase relative to $32.44 billion a year prior. The growth was attributed to an increase in ‘Investment in associated companies’ and ‘Investment properties’ which amounted to $24.92 billion (2016: $20.87 billion) and $7.84 billion (2016: $5.58 billion) respectively.

Shareholders Equity amounted to $30.53 billion (2016: $25.67 billion) with a book value per share of $28.63 (2016: $24.08).

 

Disclaimer:

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

 

 

 

 

 

 

 

 

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