Portland JSX Limited Recovers from Losses in Q1

• Portland JSX reported a recovery in profit of US$94.79Mn (EPS: 0.03¢) for the three months ended May 31, 2019, relative to the US$ 500.94Mn (EPS: -0.16¢) loss in 2018.
• This improvement in the bottom line was driven mainly by the net fair gains on financial assets classified at fair value which amounted to $276.76Mn up from the $313.18Mn loss reported in 2018.
• The company also reduced operating expenses by 12.5% to $184.68Mn.
• The stock has risen 11.3% since the start of the calendar year, closing yesterday’s trading session at $8.35 per share. At its current price the stock now trades at a P/B of 0.81x which is below the Main Market Real Estate sector average of 1.89x.

(Portland JSX Financials)