CPJ Records a Rebound in Profitability for the 2021/22 Financial Year
- CPJ reported a net profit attributable to owners of the company of US$7.51Mn for its financial year ending June 30, 2022, which represents a turnaround from the US$2.26Mn net loss realized in its last financial year. The favourable results were driven primarily by a recovery in demand from the hospitality and retail sectors.
- The company saw a US$61.78Mn or 106.2% increase in its gross operating revenue. This was supported by improvements in its IT infrastructure, the opening of CPJ Market stores, and the launching of its B2B & B2C platforms. This assisted the company in both reaching a larger client base as well as improving its customer experience.
- Going forward, the company is expected to open a new CPJ Market story in Drax Hall as well as upgrade its infrastructure including its trucking fleet. The company expects to see growth in line with tourism and as such, it is actively seeking ways to enhance its business service delivery.
- CPJ’s stock price has increased by 1.7% since the start of the calendar year. The stock closed Thursday’s trading session at $13.26 and currently trades at a P/E of 12.9x which is below the Main Market Distribution & Manufacturing Average of 15.4x.
(Source: Company Financials)