1834 seeks to Rent the Fifth Floor on the Gleaner building
October 30, 2019 Acting General Manager, Terry Peyrefitte, at the Annual General Meeting, indicated that “2018/2019 financial year marked 1834’s third full year as a standalone investment company since the media amalgamation of RJR in 2016.” Furthermore, Ms. Peyrefitte stated that the company, “the company seeks to rent the fifth floor on the Gleaner building (North Street) to tenants. However, they have been unsuccessful in finding suitable tenants.” Additionally the BPO sector is now a potential tenant in which the Company plans to approach. 1834 Investments has concluded the wind-up of four dormant local subsidiary companies namely Digjamaica.com Limited, Popular
LASM reports 12% increase in six months net profit
October 30, 2019 Lasco Manufacturing Limited (LASM) for the six months ended September 30, 2019, recorded an increase of $50.30 million or 1% in revenue to total $3.85 billion relative to the $3.80 billion recorded for the comparable period in 2018. For the second quarter, total revenue closed at $2.06 billion (2018: $2.07 billion), a 0.2% decline. Cost of sales amounted to $2.43 billion (2018: $2.47 billion) for the period, a decrease of 2% year on year. As a result, gross profit of $1.42 billion was recorded for the period, 7% more than the $1.32 billion booked in September 2018.
Overseas Headlines-October 30, 2019
October 30, 2019 United States: U.S. Economy Holds Up With 1.9% Growth on Consumer Strength “A resilient American consumer helped the U.S. economy expand more than forecast in the third quarter, assuaging concerns for now of a more pervasive slowdown tied to weakening business investment and faltering export markets. Gross domestic product increased at a 1.9% annualized rate, according to Commerce Department data Wednesday that topped forecasts in a Bloomberg survey that called for 1.6% growth. Still, that’s down from 2% in the second quarter and is the lowest since the end of 2018. The gain mainly reflected strength in consumer spending,