Latest news and updates from PanJam.

PanJam Reports 2018 Profit of $5.3 Billion

KINGSTON, JAMAICA: PanJam Investment Limited (PanJam or the Group) increased profits on strong performance from core operations and associated companies.

Net profit attributable to shareholders for the year ended December 31, 2018 amounted to $5.3 billion, an increase of 29 per cent over the previous year’s performance. Earnings per stock unit were $5.06, compared to $3.93 for the 2017 financial year.

Total income grew by 35 per cent relative to the previous year.  Investment income more than doubled to $1.1 billion, driven by higher dividend income and fair value gains on a larger trading portfolio. Property income improved by 16 per cent to $2.1 billion, reflecting rental income and property revaluation gains of $1.6 billion and $0.5 billion, respectively.

Share of results of associated companies grew by 19 per cent to $4.7 billion, due primarily to the Group’s 32 per cent ownership stake in Sagicor Group Jamaica Limited. PanJam also continues to build value from its other investments in the hospitality, manufacturing and distribution sectors. In particular, share of results from the Courtyard by Marriott Kingston improved by 15 per cent.

In the fourth quarter, PanJam entered into an agreement to acquire a 25 per cent stake in Williams Offices (Caribbean) Limited, which provides flexible workspace throughout the Caribbean under the brand Regus.  

Stephen Facey, PanJam’s Chairman and CEO, said “2018 was an exciting year for us. The local economic landscape has provided enhanced returns on investments made decades ago and presented new opportunities. In line with our strategy, we heightened our exposure to the Jamaican securities market, acquired land for development in Montego Bay and took equity positions in private companies. We look forward to sharing the details of these activities with our investors at the upcoming Annual General Meeting.”


About PanJam Investment Limited

PanJam Investment Limited (PanJam) has been investing in Jamaica for over 50 years, and is among the largest publicly-listed companies in the Caribbean.  As an investment holding company, PanJam generates shareholder returns through three distinct activities. It develops and manages commercial real estate in Jamaica, takes actively-managed positions in both public and private companies throughout the Caribbean but primarily in Jamaica, and trades equities and fixed income assets for its proprietary portfolio.

Joanna Banks