Honey Bun, one of the top movers on the Jamaican stock exchange is reporting a 16.5% decline is net profit despite a 6.8% increase in sales for the 1st quarter ending December 2016. The company earned profits of $37.9m from Sales of $312.4m. Continue Reading
138SL, the construction company doing the expansion of residential facilities at the University of the West Indies is reporting a 173% increase in profits for the first quarter ended December 2016. They are reporting a profit of $11m for the quarter vs a loss of $14.9m last year. Continue Reading
Lasco Financial is reporting a 24.5% increase in revenues compared to Q3 last year (from $239.0m to $297.7m ) driven by their expansion into new markets and products. Profits have also increased by 41.2% for the quarter compared to last year.
Similarly, profits have increased by 46.2% compared to the prior quarter ending September 2016 (from $42.4m to 62.0m), however revenue grew by only 9.4% over the same period.
For the first quarter ending December 2016 Salada Foods Jamaica Ltd is reporting Net Profit of $17.29m up 28% above the previous year ($13.47m). The company reports this being due to increased sales, improved margins (from efficiencies and product mix) and gains on investments.
While Salada is reporting an increase in profits compared to last year, this is however 20.4% lower than the $21.7m reported in the last quarter, Q4 2016.
More to come.
Jamaica Broilers Group
The Jamaica Broilers Group reported profits of $330.8 million for the quarter ending August 2015, the first quarter of its 2015/16 financial year, compared to $113.6 million a year earlier.
Gross profits for the quarter amounted to $2.28 billion, which is 32% above the $1.73 billion recorded for the corresponding quarter last year. This was driven by revenues for the quarter amounting to $8.93 billion which, when compared to the $7.89 billion in the corresponding period last year, represents a 13% increase.
The Jamaican operations performed well when compared to the prior year’s quarter –which was negatively impacted by drought, market constraints and sluggish consumer demand. The Jamaican operations brought in $697 million for this quarter; a $448 million increase over the $249 million reported for last year.
National Commercial Bank
National Commercial Bank Jamaica Ltd is reporting net profit of J$8.6 billion for the nine months ended June 30, 2015, compared to a restated net profit of $9.0 billion for the prior year. Without one off asset tax expenses, the net profit would have been J$9.0 billion compared to J$8.8 billion in the prior year (2014).
For the 3 months ended June 2015 they are reporting net profit of J$2.9 billion and this was 13% or J$445 million lower than the pro forma normalised net profit for the prior three months ended March 31, 2015 of J$3.3 billion. This was also 1% or $29 million below the previously reported net profit for the three months ended June 30, 2014 of J$2.9 billion. Continue Reading
Kuntsford Express Services Ltd is reporting a 43.9% increase in profit for the year ending May 2015 as its profit moved from $50.3m in 2014 to $72.4m in 2015. The organization, which is largely owned by Oliver Townsed, Anthony Copeland, Proven Investment Ltd and Gordon Townsend said there was a $128.5m (39.8%) increase in revenue over the full year period and the increase was primarily due to a growth in passenger travel and courier business. Continue Reading
Heavyweight Caribbean telecommunications company Digicel has reported a slip in its performance for the three months ended September 2013. The Irish Times reports, that according to their recent financials;
Total group revenues at Digicel, the mobile phone company owned by businessman Denis O’Brien, fell by US$7 million to US$691 million in the three months to the end of September, according to financial statements sent to the company’s bondholders. Continue Reading