With two years under its belt, listed production, media and advertising agency, Limners and Bards Limited has expanded its business.

The company, which trades under the name, The LAB has incorporated a new subsidiary named SCOPE Caribbean, which is a user-generated influencer and talent platform and is the newest extension to the creative and production company. SCOPE Caribbean was incorporated on May 5, as a wholly-owned subsidiary of Limners and Bards Limited.

The incorporation of the subsidiary follows a Board of Directors meeting held on April 26, in which approval was given for the incorporation of the new subsidiary. This new company is a crucial part of The Lab’s growth strategy.

Profitable run continues into 2021

The LAB continued its profitable run into 2021, even with a slow-down in advertising agency business. Having ended 2020 very strong, recording a 34 per cent jump in net profits for the year, the sole listed advertising agency on the local stock market started its 2021 first quarter in the same vein.

Net profits for the quarter ended January 31, 2021 was $67.02 million, up $18.11 million or 37 per cent over the J$48.90 million recorded for the comparable period in 2020. Revenue for the January 2021 quarter was J$356.3 million, up 38.9 per cent compared to $263 million for the corresponding period last year.

The revenue growth is attributable to increases in the company’s core business, media placement (up $21.3 million or 16.6 per cent) and production (up $72.8 million or 92.3 per cent). The company was listed on the Junior Market of the Jamaica Stock Exchange (JSE) in July 2019, five months after its formation that February.