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Jamaica Stock Exchange Limited, JSE, grew its revenue in the June 2025 quarter, but net profit fell 40 per cent, reflecting the slide in the wider stock market.
“The second-quarter performance has been fair, given the challenging market conditions,” said Chairman Steven Whittingham and Managing Director Marlene Street Forrest in a joint statement accompanying the financials.
JSE Group manages the local stock exchange, offers trustee services, and provides training through an online institute called JSEe-Campus. Its stock trades on the exchange.
JSE’s quarterly net profit fell to $45.5 million, down from $77 million in the same period last year. This came despite a rise in revenue to $658.5 million, up from $573 million a year earlier.
Trading activity remained subdued across both the main and junior markets of the JSE. The main market index has fallen nearly 10 per cent year to date, slipping from 334,219 points in January to 308,603 points at the end of July. The junior market index declined from 3,786 points to 3,511 points over the same period.
The group cited high interest rates, geopolitical tensions, and economic uncertainty as factors dampening investor sentiment.
Still, the dollar value of trades rose year to date, contributing to the JSE Group’s income. The stock exchange earns a fee of 30 cents per $1,000 trade on both sides of a transaction, payable by the buyer and seller.
Main market trading values totalled $45 billion over the seven months to July, up from $26 billion a year earlier. That increase was largely driven by a one-off spike in March – related to state company NROCC’s disposal of its remaining stake in TransJamaican Highway Limited to stock market investors – which pushed the value of trades to $24.5 billion. Excluding that month, 2025 trading values would have been flat compared to 2024. Junior Market trades totalled $4.5 billion, up from $3.87 billion.
Year to date, JSE Group’s net profit rose by two-thirds to $281.8 million, buoyed by a strong first quarter. Total assets climbed 15 per cent year-on-year to $3.76 billion, driven by increased holdings in government securities.
“We remain resolute in our commitment to maximise shareholders’ wealth,” the group stated.
It expects investor activity to rebound as interest rates decline and market volatility stabilises.
English (US) ·