The Jamaica Stock Exchange (JSE) posted a triple-digit rise in second-quarter profit as increased market activity boosted transaction-related revenue and management cut operating costs, helping offset a softer first-half performance.
“The JSE Group delivered a creditable performance in the second quarter, reflecting the resilience of the business model in the dynamic operating environment,” according to a joint statement from JSE Chairmen Steven Whittingham and CEO Livingstone Morrison.
Net profit after tax for the quarter ended June surged 191 per cent to $132.4 million, up from $45.5 million a year earlier, while total income rose 9.6 per cent to $721.9 million, according to the exchange’s latest unaudited financial statements. Earnings per share climbed to 19 cents from six cents in the corresponding period of 2025.
The quarterly rise, however, still puts the year-to-date performance “marginally below prior year’s outturn,” stated JSE Group in its statement.
The exchange said the stronger performance reflected a rebound in trading activity and improved operating efficiency. The exchange struck an optimistic tone for the remainder of the year, arguing that an easing interest-rate environment could encourage greater investor activity and support a broader recovery in equity-market trading, despite persistent inflation risks and geopolitical uncertainty.
“Notwithstanding, there are indications that stock market activity is slowly rebounding with increased participation and interest from investors and companies alike,” stated the JSE Group.
A key contributor was cess income, a fee linked to market transactions, which increased 43 per cent to $132 million during the quarter. The company said the gain stemmed from “heightened market activities” helping to drive overall revenue growth across all major business lines.
It added that its diversification strategy should help sustain financial performance and support long-term growth.
At the same time, total expenses fell 12.7 per cent to $531 million. Management attributed the decline to a strategic push to improve efficiency, with advertising and promotion costs dropping by $13.4 million and impairment losses on financial assets declining by $64 million as overdue receivables were collected.
Despite the strong quarter, year-to-date earnings slipped 5.3 per cent to $266.9 million from $281.8 million a year earlier, while total income declined 5.7 per cent to $1.43 billion.
As of June 30, total assets stood at $4.2 billion, up 11.5 per cent from a year earlier, while shareholders’ equity increased 11.4 per cent to $3.27 billion.
business@gleanerjm.com
