Portland JSX Reports YoY Earnings Growth

• For the Three Months ended May 31, 2021, Portland JSX Limited reported a net profit of US$354,598 relative to the US$1.40Mn loss in the corresponding period of the prior year. 
• The major driver for this earnings result was the US$750,683 recorded for net fair value gains on financial investments relative to a loss of US$1.33Mn in the corresponding period of 2020. On the other hand, net interest income fell 65.2% while the company recorded FX losses of US$43,064 for the period. A 3.2% increase in interest expenses and a 63.1% increase in operating expenses also tempered the improvement in earnings. 
• Portland JSX Ltd.’s stock price has fallen to $7.03 per share, down 26.0%  since the start of the year. At this price, the stock trades at a P/E ratio of 13.5x earnings, which is below the main market financial sector average.

Source: (PJX Financials)