Jamaica Stock Exchange posts revenue growth despite higher costs in 2025

The Jamaica Stock Exchange says Jamaica’s capital market came through a difficult 2025 marked by hurricanes, high interest rates, weaker company earnings, global uncertainty and changing investor sentiment, while still delivering revenue growth.

According to the exchange, revenue moved from $1.13 billion in 2021 to between $1.6 billion and $1.62 billion in 2025. Profit stood at $409 million, equal to 40 per cent of total group revenue. Jamaica Central Securities Depository accounts also climbed past 355,000, with nearly 27,000 new accounts added during 2025.

The JCSD returned $309.8 million to the parent company, representing more than 75 per cent of its profit. However, the group’s total expenses rose by 18.6 per cent, outpacing revenue growth of 8.9 per cent and limiting overall profit performance.

The exchange said the higher cost base included increased spending to maintain upgraded technology systems, including licensing and maintenance expenses. It said the investment is intended to reduce operational risk, strengthen compliance and create capacity for a wider range of products and services.

During 2025, the exchange listed 18 new securities, up 80 per cent compared with the previous year. Total capital raised for the year ended December 31, 2025, was $22.3 billion, which the exchange said showed continued confidence in Jamaica’s capital markets and its role in supporting their development and integrity.

For 2026, the exchange said its work will be guided by four areas: operational excellence, financial market development, shareholder engagement and people development.

In market trading, the JSE index gained 717 points, while the junior market index rose by 17 points. Advancers included Caribbean Flavours and Fragrances, Main Event Entertainment Group, First Rock Real Estate Investments, QWI Investments and Radio Jamaica. Decliners were led by Sterling Investments, Mayberry Group, King Alarm Holdings, Knutsford Express Services and Caribbean Assurance Brokers. Sixteen stocks traded firm.

On the currency market, banks and cambios sold the US dollar at an average $158.44. The Canadian dollar was selling for $117.19, the pound for $214.58 and the euro for an average $185.20.