year-end report Archives

Business | Mar 3, 2022

Derrimon Trading reports 39% increase in revenue to J$5 billion for 2021

Reading Time: 3 minutesJamaican-listed distributor Derrimon Trading Company Limited recorded noteworthy growth for the year ended December 31, 2021, despite some of the negative economic challenges and the lingering effects of the coronavirus (COVID-19) pandemic affecting overall logistics and supply chain issues. The 12-month results for Derrimon Trading Company Limited registered consolidated revenue of J$17.744 billion, a 39 per cent increase over the 2020 reporting period and consolidated gross profit of J$3.409 billion (a 37.32 per cent increase over the 2020 reporting period). The company also reported consolidated profit before tax of J$555.719 million, a 56 per cent increase and net profit after…

Business | Mar 2, 2022

Profits down but revenues climb at Supreme Ventures in 2021

Reading Time: 3 minutesRegional gaming company Supreme Ventures Limited has seen a slight decline in profits in 2021 but revenues registered a slight uptick. Taxation for the year fell 19 per cent to close at J$951.38 million compared to J$1.18 billion in 2020, thus resulting in net profit of J$2.33 billion, a four per cent decrease from the J$2.42 billion recorded in the prior comparable period. For the December quarter, net profit closed at J$785.07 million, down from the J$869.16 million posted in 2020. Net profit attributable to shareholders amounted to J$2.29 billion versus J$2.38 billion booked in the prior corresponding period. For…

Business | Dec 18, 2021

Indies Pharma reports higher year-end profits and revenues for 2021

Reading Time: 2 minutesMontego Bay-based pharmaceutical company, Indies Pharma, ended its 2021 financial year with profits and revenues climbing. For the twelve-month period ended October 30, 2021, profit from operations amounted to $225 million coming from $214 million in 2020. Profit from operations during the fourth quarter was up 35 per cent to $70 million coming from $52 million in 2020. Gross profit for 2021 was up four per cent or $24 million compared to the prior twelve-month period in 2020. Gross profit for the fourth quarter improved by 17 per cent or $22 million when compared with the corresponding period in 2020….

Business | Dec 13, 2021

Scotia Group Jamaica posts commendable 2021 fiscal performance

Reading Time: 3 minutesScotia Group reports delivered a commendable 2021 fiscal performance even though it recorded a slight decline in net income. Net income of $8.4 billion was recorded for the year ended October 31, 2021, compared to $9.0 billion for 2020. Arising from the positive performance, the Board of Directors has approved a dividend of 35 cents per stock unit in respect of the fourth quarter. This will be payable on January 21, 2022, to stockholders on record as at December 30, 2021. President and CEO of Scotia Group Jamaica, Audrey Tugwell-Henry, commenting on the performance, explained, “The 2021 results incorporated a one-time…

Business JAM | Nov 27, 2021

AMG reports 8% increase in year-end net profits

Reading Time: 3 minutesAMG Packaging and Paper Company Limited is reporting an eight per cent rise in year-end net profits amounting to $60.59 million compared to $56.21 million in 2020

Business | Oct 26, 2021

AMG Packaging and Paper ‘financially strangled’ by higher manufacturing costs

Reading Time: 3 minutesAMG Packaging and Paper Company Limited is being severely challenged by higher manufacturing costs in addition to the negative effects of coronavirus (COVID-19) lockdown measures during the August quarter. The listed company is pointing to a dramatic increase in freight cost as well as the shortage of paper on the world market, which continues to drive up the cost of paper in Jamaica. The management of AMG Packaging and Paper Company says it is continuing to monitor what is happening on the world and local markets. Total manufacturing costs for the fourth quarter, which ended on August 31, 2021, went…

Business | Jul 19, 2021

RJR Group grows year-end net profit of $170.66 million

Reading Time: 3 minutesRJR Group, Jamaica’s premier media outlet has registered a big jump in its March year-end net profit of $170.66 million coming from versus net profit of $37.56 million booked in 2020. For the March 31, 2021 quarter, net profit amounted to $43.55 million reversing the net loss of $96.84 million recorded twelve months prior. Operating profit grew by 213 per cent for the period in review, from $90.45 million in 2020 to $283.52 million in 2021. As for the last quarter, there was an operating profit of $76.73 million in 2021 relative to an operating loss of $125.50 million in…

Business JAM | Jul 2, 2021

The LAB positioning itself as the Caribbean’s primary hub for content creation

Reading Time: 4 minutesAdvertising company, The Lab is positioning itself as the Caribbean’s primary hub for content creation in line with its 2025 company vision. This vision is for the company, “to become the #1 integrated advertising agency and production company in the region, recognized and respected internationally,” as expressed by the company’s CEO, Kimala Bennett. The LAB intends to achieve this vision by using the following strategies: Technology & Disruption – Leveraging technology to innovate and disrupt our product and service delivery. Expansion into new markets – Growth in different markets and service segments Strong Focus on Quality – Excellent Creative Outputs.”…

Business | Jun 27, 2021

Portland JSX Limited delivers modest profit during 2020/2021 pandemic year

Reading Time: 3 minutesJamaican listed Investment company, Portland JSX Limited has exhibited much resilience managing to carve out a modest profit of about US$800-thousand during the pandemic. For its 2020/2021financial year, which ended in February this year, Portland JSX, which is incorporated in St. Lucia as an international business company, grew its net profit to US$2,115,991 coming from US$1,345,405 in the prior year. The primary business of Portland JSX is that of a limited partner in the Portland Caribbean Fund (PCF) II, which is its main asset. PCF II is a limited partnership that is one of a set of parallel partnerships that…

Business | Jun 19, 2021

Lasco Financial Services reverses losses to post year-end profit

Reading Time: 2 minutesHaving incurred a loss of $56.92 million in 2020, Lasco Financial Services has reversed those losses to post a modest net profit of $156.75 million for its financial year ended March 31, 2021. Taxes for the period under review amounted to $103.63 million coming from $78.89 million in 2020. Net profit for the quarter amounted to $2.84 million relative to 2020 fourth quarter loss of $133.85 million. Profit before tax for 20021 was $260.38 million relative to the $21.97 million booked at the end 2020. For the quarter, profit before tax closed at $10.88 million relative to a loss of…

Business | Jun 1, 2021

Lasco Distributors reports 25% increase in year-end net profit

Reading Time: 3 minutesLasco Distributors closed its financial year in March 2021 with profits going up by 25 per cent but revenues crawled up by four per cent to post $20.29 billion.

Business | May 30, 2021

Carreras stays profitable in spite of pandemic curtailment

Reading Time: 2 minutesCigarette company, Carreras managed to stay profitable for its 2020/2021 financial year, which ended on March 31, 2021, in spite of the pandemic curtailment in business. Net profit at the end of its 2020/2021 financial year increased by four per cent to $3.74 billion coming from $3.58 billion in 2020. This is after incurring taxes of $1.22 billion for the year. For the March quarter, Carreras’ net profit closed a $1.14 billion compared to $1.13 billion reported in the same period last year. Profit before income tax for the year was recorded at $4.96 billion compared to $4.76 billion in…

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