Reported Earnings • Aug 16
First quarter 2027 earnings released: EPS: JA$1.02 (vs JA$0.39 loss in 1Q 2026) First quarter 2027 results: EPS: JA$1.02 (up from JA$0.39 loss in 1Q 2026). Revenue: JA$6.50b (up 6.6% from 1Q 2026). Net income: JA$1.99b (up JA$2.76b from 1Q 2026). Profit margin: 31% (up from net loss in 1Q 2026). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Jul 31
JMMB Group Limited, Annual General Meeting, Sep 30, 2026 JMMB Group Limited, Annual General Meeting, Sep 30, 2026. Location: jamaica pegasus hotel kingston, located at 81 knutsford boulevard, kingston, Jamaica Upcoming Dividend • Jul 22
Upcoming dividend of JA$0.35 per share Eligible shareholders must have bought the stock before 29 July 2026. Payment date: 03 September 2026. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Jamaican dividend payers (4.4%). Lower than average of industry peers (3.6%). Reported Earnings • Jun 03
Full year 2026 earnings released: EPS: JA$0.79 (vs JA$1.80 in FY 2025) Full year 2026 results: EPS: JA$0.79 (down from JA$1.80 in FY 2025). Revenue: JA$24.7b (up 30% from FY 2025). Net income: JA$1.55b (down 56% from FY 2025). Profit margin: 6.3% (down from 19% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 20% per year and the company’s share price has also fallen by 20% per year. Announcement • Jul 31
JMMB Group Limited, Annual General Meeting, Oct 10, 2025 JMMB Group Limited, Annual General Meeting, Oct 10, 2025. Location: in a hybrid format, jamaica pegasus hotel kingston, at 81 knutsford boulevard, kingston 5 jamaica, Jamaica Announcement • Jun 30
JMMB Group Limited Announces Resignation of Garfield Smith as Group Chief Risk Officer, Effective July 31, 2025 JMMB Group Limited (JMMBGL) advised that Mr. Garfield Smith has tendered his resignation as Group Chief Risk Officer, effective July 31, 2025. Garfield has taken the difficult decision to leave his JMMB family to pursue other opportunities. Garfield joined JMMB Group in September 2017 as Credit Risk Manager and rapidly advanced through the ranks, ultimately becoming Group Chief Risk Officer in November 2023. Announcement • Mar 13
Jmmb Group Limited and Jmmb Financial Holdings Limited Announces Retirement of Patricia Dailey-Smith as Director, Effective March 31, 2025 JMMB Group Limited announced that Director, Mrs. Patricia Dailey-Smith, has advised that she will retire from the board of JMMB Group Limited and its subsidiary JMMB Financial Holdings Limited, effective March 31, 2025. Having completed a successful audit career, including over 25 years with KPMG, in roles such as Audit Manager and Audit Partner; Patricia's subsequent role, as a director of JMMB Group Limited and JMMB Financial Holdings Limited, over the past eight years, inured significantly to the growth of organisation. Announcement • Nov 30
JMMB Group Limited Appoints Marie Desouza as Deputy Company Secretary, Effective December 2, 2024 The Board of Directors of JMMB Group Limited has appointed Ms. Marie DeSouza as Deputy Company Secretary, effective December 2, 2024. Marie has been a part of the JMMB family since 2016. With over a decade of experience in the financial services sector, she holds a BSc in Management Studies and an MSc in Human Resource Development from the University of the West Indies (UWI). Additionally, she is certified in Company Secretarial Practice and Share Registration Practice by the Chartered Governance Institute UK & Ireland. Reported Earnings • Nov 17
Second quarter 2025 earnings released: EPS: JA$1.09 (vs JA$0.35 loss in 2Q 2024) Second quarter 2025 results: EPS: JA$1.09 (up from JA$0.35 loss in 2Q 2024). Revenue: JA$4.28b (down 13% from 2Q 2024). Net income: JA$2.12b (up JA$2.82b from 2Q 2024). Profit margin: 50% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JA$25.80, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 21x in the Capital Markets industry in Jamaica. Total loss to shareholders of 30% over the past three years. Announcement • Aug 21
JMMB Group Limited, Annual General Meeting, Sep 23, 2024 JMMB Group Limited, Annual General Meeting, Sep 23, 2024. Location: in a hybrid format, at the jamaica pegasus hotel kingston, located at 81 knutsford boulevard, kingston 5 jamaica, Jamaica Announcement • Aug 01
JMMB Group Limited Announces Executive Changes JMMB Group Limited announced that Mr. Avinash Bissessar, Group Chief Investment Officer has tendered his resignation, effective September 18, 2024. Mr. Bissessar has made the difficult decision to leave his JMMB family to explore other opportunities for his personal growth and development The JMMB team wishes Mr. Bissessar all the very best in his new endeavors. Its are grateful for his impeccable and tireless service to JMMB. Paul Gray Group Executive Special Projects, will return to the role of Group Chief Investment Officer on September 18, 2024. Mr. Gray held this role prior to being seconded to Dominican Republic operations, in the capacity Interim Country Head, in January 2017 when needed his blend of leadership skills and experience to support their effective integration into the Group. Announcement • Jul 23
JMMB Group Limited to Report Fiscal Year 2024 Final Results on Aug 20, 2024 JMMB Group Limited announced that they will report fiscal year 2024 final results on Aug 20, 2024 New Risk • Jul 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (7.0% increase in shares outstanding). Buy Or Sell Opportunity • Jul 02
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at JA$25.00. The fair value is estimated to be JA$20.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has grown by 18%. Upcoming Dividend • Jun 27
Upcoming dividend of JA$0.25 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 12 August 2024. Payout ratio is a comfortable 2.1% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Jamaican dividend payers (3.4%). Lower than average of industry peers (3.5%). Buy Or Sell Opportunity • Jun 25
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.2% to JA$25.30. The fair value is estimated to be JA$21.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has grown by 18%. New Risk • Jun 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 63% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. New Risk • May 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 64% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: JA$7.62 (vs JA$2.03 in 3Q 2023) Third quarter 2024 results: EPS: JA$7.62 (up from JA$2.03 in 3Q 2023). Revenue: JA$5.21b (down 7.9% from 3Q 2023). Net income: JA$14.9b (up 275% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jan 05
JMMB Group Limited Announces Appointment of Mr. Shawn Moses as Country CEO for JMMB Group’S Trinidad and Tobago Operations JMMB Group Limited announced Mr. Shawn Moses was appointed as Country CEO for JMMB Group’s Trinidad and Tobago Operations, effective January 2, 2024. In this role he will have strategic and operational oversight for the JMMB Group Limited’s Trinidad and Tobago subsidiaries, namely; Jamaica Money Market Brokers (Trinidad and Tobago) Limited and its subsidiaries which are JMMB Bank (T&T) Limited and its subsidiary JMMB Express Finance (T&T) Limited and JMMB Investments (Trinidad and Tobago) Limited and its subsidiary JMMB Securities (T&T) Limited.Mr. Moses maintains his role as CEO of JMMB Bank (T&T) Limited. Reported Earnings • Nov 19
Second quarter 2024 earnings released: JA$0.35 loss per share (vs JA$1.01 loss in 2Q 2023) Second quarter 2024 results: JA$0.35 loss per share (improved from JA$1.01 loss in 2Q 2023). Revenue: JA$3.86b (down 17% from 2Q 2023). Net loss: JA$693.0m (loss narrowed 65% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year. Upcoming Dividend • Sep 04
Upcoming dividend of JA$0.25 per share at 1.8% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 4.5% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Jamaican dividend payers (3.6%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 19
First quarter 2024 earnings released: EPS: JA$1.28 (vs JA$1.14 loss in 1Q 2023) First quarter 2024 results: EPS: JA$1.28 (up from JA$1.14 loss in 1Q 2023). Revenue: JA$5.43b (up 2.6% from 1Q 2023). Net income: JA$2.50b (up JA$4.74b from 1Q 2023). Profit margin: 46% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. New Risk • Jul 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.4% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (30% net profit margin). Reported Earnings • Jul 12
Full year 2023 earnings released: EPS: JA$3.15 (vs JA$5.85 in FY 2022) Full year 2023 results: EPS: JA$3.15 (down from JA$5.85 in FY 2022). Revenue: JA$20.2b (down 11% from FY 2022). Net income: JA$6.17b (down 46% from FY 2022). Profit margin: 31% (down from 50% in FY 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JA$0.79 (vs JA$1.75 in 2Q 2022) Second quarter 2023 results: EPS: JA$0.79 (down from JA$1.75 in 2Q 2022). Revenue: JA$5.10b (down 18% from 2Q 2022). Net income: JA$1.55b (down 55% from 2Q 2022). Profit margin: 30% (down from 55% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 04
Full year 2022 earnings released: EPS: JA$5.85 (vs JA$3.84 in FY 2021) Full year 2022 results: EPS: JA$5.85 (up from JA$3.84 in FY 2021). Revenue: JA$22.8b (up 19% from FY 2021). Net income: JA$11.4b (up 52% from FY 2021). Profit margin: 50% (up from 39% in FY 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 23% share price gain to JA$54.00, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 12x in the Capital Markets industry in Jamaica. Total returns to shareholders of 83% over the past three years. Reported Earnings • Feb 21
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JA$1.61 (up from JA$0.77 in 3Q 2021). Revenue: JA$7.74b (up 47% from 3Q 2021). Net income: JA$3.15b (up 108% from 3Q 2021). Profit margin: 41% (up from 29% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 02
Upcoming dividend of JA$0.25 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 07 January 2022. Trailing yield: 2.2%. Lower than top quartile of Jamaican dividend payers (3.1%). Lower than average of industry peers (3.1%). Reported Earnings • Nov 17
Second quarter 2022 earnings released: EPS JA$1.75 (vs JA$0.80 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JA$5.96b (up 14% from 2Q 2021). Net income: JA$3.42b (up 118% from 2Q 2021). Profit margin: 57% (up from 30% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Executive Departure • Aug 05
CEO & Chief Country Officer of JMMB Bank (T&T) Ltd. Ronald Carter has left the company On the 31st of July, Ronald Carter's tenure as CEO & Chief Country Officer of JMMB Bank (T&T) Ltd. ended. We don't have any record of a personal shareholding under Ronald's name. Ronald is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.58 years. Executive Departure • Aug 05
CEO & Chief Country Officer of JMMB Bank (T&T) Ltd. Ronald Carter has left the company On the 31st of July, Ronald Carter's tenure as CEO & Chief Country Officer of JMMB Bank (T&T) Ltd. ended. We don't have any record of a personal shareholding under Ronald's name. Ronald is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.58 years. Reported Earnings • Jun 17
Full year 2021 earnings released The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: JA$20.7b (up 10% from FY 2020). Net income: JA$7.51b (up 7.3% from FY 2020). Profit margin: 36% (down from 37% in FY 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 18
Third quarter 2021 earnings released: EPS JA$0.77 (vs JA$0.69 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JA$5.25b (up 6.0% from 3Q 2020). Net income: JA$1.51b (up 26% from 3Q 2020). Profit margin: 29% (up from 24% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 31
New 90-day high: JA$36.50 The company is up 25% from its price of JA$29.10 on 02 October 2020. The Jamaican market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: JA$35.01 The company is up 18% from its price of JA$29.78 on 08 September 2020. The Jamaican market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 31% over the same period. Reported Earnings • Nov 19
Second quarter 2021 earnings released: EPS JA$0.80 The company reported a soft second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: JA$5.25b (up 3.3% from 2Q 2020). Net income: JA$1.57b (down 2.7% from 2Q 2020). Profit margin: 30% (down from 32% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 16
Upcoming Dividend of JA$0.25 Per Share Will be paid on the 21st of December to those who are registered shareholders by the 23rd of November. The trailing yield of 1.6% is below the top quartile of Jamaican dividend payers (2.9%), and is lower than industry peers (1.9%). Is New 90 Day High Low • Nov 07
New 90-day high: JA$31.90 The company is up 3.0% from its price of JA$30.99 on 07 August 2020. The Jamaican market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 30
New 90-day low: JA$28.01 The company is down 11% from its price of JA$31.46 on 02 July 2020. The Jamaican market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 9.0% over the same period. 
