Eppley Limited today announced that it recorded the highest profits in its history in 2020.

Eppley reported profit after tax of $221 million in 2020, a more than 35 per cent increase over its profits in 2019. The company’s total comprehensive income for the period was $267 million.

“We are proud of Eppley’s results. Our earnings not only increased significantly, but more importantly increased significantly in quality, said Managing Director Nicholas A. Scott as he commented on Eppley’s performance.

“Particularly in the context of the COVID-19 pandemic this is testimony to the dedication of our team and strength of our strategy.”

Profit growth was driven by the expansion of Eppley’s asset management business. Eppley’s return on equity in 2020 was 22 per cent. The company also declared a record final dividend of $0.83 per share.

“Eppley’s business now has a combination of strong, recurring fee income which complements the returns from our proprietary portfolio,” said Scott.

“Our results are driven by our disciplined investment philosophy which is the source of our long track record of consistent, attractive returns for our shareholders and investors.”

In its over seven years as a listed company, including dividends and increases in its market capitalisation, Eppley has now delivered a compounded annual return to its shareholders of over 35 per cent per annum.

Eppley Limited is an investment company listed on the Jamaica Stock Exchange (JSE: EPLY). Eppley invests in private markets across the Caribbean including credit, mezzanine, real estate and infrastructure through its funds and its proprietary portfolio.