SelectF reports net profit of $973.92 million for the year ended December 2019
March 02, 2020 Sagicor Select Funds Limited (SELECTF), for the year ended December 31, 2019 reported net investment income of $1.04 billion. Dividend income closed the year ended December 31, 2019 at $104.23 million, moreover, other net changes in fair value on financial assets at fair value totalled $931.83 million, while investment income amounted to $1.52 million. Net foreign currency gains on cash and cash equivalents amounted to $1.46 million. The Company highlighted, “The fund benefitted from the stock market performance over the period. Revenue was largely derived from appreciation in prices of the securities held as well as dividends.
CFF reports 44% decline in net profit for the twelve months ended December 31, 2019
March 02, 2020 Caribbean Flavours and Fragrances (CFF), revenues increased to $462.46 million for the twelve months ended December 31, 2019. Cost of sales amounted to $323.30 million. Management noted, “the company faced significant increase in logistics costs and increases from suppliers this resulted in substantial increases in cost of sales.” Consequently, gross profit amounted to $139.16 million for the year end. The Company recorded a year over year increase in total expenses to $117.24 million. Total expenses comprised of selling and distribution which totalled $3.40 million, whereas, administrative expenses for the period closed at $113.84 million. Consequently, profit from
JETCON reports 34% decrease in year end net profits
March 02, 2020 Jetcon Corporation Limited (JETCON), for the twelve months ended December 31, 2019, reported a 12% decline in turnover for the twelve months to $1.03 billion (2018: $1.16 billion), while for the fourth quarter revenues rose by 4% to $278.68 million in 2019 from $269.18 million in 2018. Cost of sales also decreased by 11% to $890.25 million (2018: $999.17 million) and as a result gross profit decreased by 16% to $135.67 million compared to $162.30 million in 2018. Gross profit for the fourth quarter ended December 31, 2019 amounted to $10.90 million (2018: $10.46 million). Other operating