Gas Price Movement – December 05, 2019
December 05, 2019 Brent Oil Brent oil prices decreased by 0.75% or US$0.48, as prices decreased this week relative to the prior week. Oil traded on December 5, 2019 at a price of US$63.39 per barrel relative to US$63.87 on November 28, 2019. Brent oil began the year at US$55.95 per barrel. Petrojam prices 87 Octane prices decreased this week by 2.36% (JMD$3.06). Additionally, 90 Octane decreased by 2.31% or (JMD$3.06) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$126.78 and J$129.62 per litre respectively. Figure 1: Petrojam, U.S.
SGJ reports 3% increase in year end profit attributable to shareholders
Date: December 5, 2019 For the year ended October 31 ,2018 Scotia Group Jamaica Limited’s (SGJ) net interest income marginally declined amounting to $25.12 billion, relative to $25.21 billion for the corresponding period in 2018, while interest expenses declined by 19% to total $2.61 billion (2018:$3.20 billion). Interest income for the year decreased from $28.41 billion in 2018 to $27.73 billion. Net interest income for the fourth quarter rose 6% to $6.43 billion relative to $6.09 billion for the corresponding quarter of 2018. The Company noted, “Loan and transaction volumes continued to grow across our business lines, however lower interest rates
AMG reports 55% increase in year end net profits
Date: December 4, 2019 AMG Packaging and Paper Company Limited (AMG) for the year ended August 31, 2019 recorded turnover in the amount of $762.30 million (2018: $718.92 million), an increase of 6% when compared to 2018. Total cost of sales amounted to $606.29 million, an increase of 7% relative to the corresponding period in 2018 of $567.93 million. Consequently, gross profit amounted to $156.01 million, 3% up from $150.98 million reported for the prior year. The company booked reversal of bad debt in the amount of $12.19 million relative to nil the prior year. AMG also booked a gain