Jamaica Stock Exchange records profits of $144 million in Q2 Loop Jamaica

The content originally appeared on: Jamaica News Loop News

The Jamaica Stock Exchange Group (JSEG) recorded net profits after tax of $144 million, which was 24 per cent above the corresponding quarter in 2021.

“The second quarter results have been good and the outlook for the year is for improved performance, as investors and companies continue to demonstrate confidence in the economy despite the lingering threats and impact of COVID 19 and other market uncertainties, the stock exchange said.

The JSE said it believes that despite the geo-political unrest, which will undoubtedly have some impact on the economy, it does not expect that this will significantly affect income due to its successful diversification strategies.

Meanwhile, total income for the JSEG of $570 million grew 29 per cent over the corresponding quarter of 2021. The increase can be attributed to improved market conditions and market activities which has resulted in a significant improvement in cess and fee Income.

Total expenses increased by 24.8 per cent compared to the corresponding quarter in 2021. The Return on Equity was 7.4 per cent as against 7.2 per cent in 2021.