RJR Turns Around Prior Year Losses

• Radio Jamaica Limited reported an audited net profit of $37.56Mn (EPS: 2¢) for the year ended March 31, 2020, representing a $60.00Mn improvement from the $22.44Mn (EPS: -1¢) loss reported in 2019.
• This performance was driven by a 2.0% (or $109.81Mn) increase in total revenue coupled with a 5.7% (or 156.41Mn) decrease in cost of sales, a 1.1% (or $13.47Mn) reduction in admin expenses as well as 9.4% (or $5.25Mn) decline in finance cost.
• The stock has fallen by -29.5% since the beginning of 2020. RJR closed Thursday’s trading session at $1.29 and currently trades at a P/E of 64.5x earnings which is equivalent to the Main Market Communications Sector Average of 64.5x earnings.

 (Source: RJR Financials)