Gas Price Movement – October 17, 2019
October 17, 2019 Brent Oil Brent oil prices decreased by 0.51% or US$0.30, as prices decreased this week relative to the prior week. Oil traded on October 17, 2019 at a price of US$58.80 per barrel relative to US$59.10 on October 10, 2019. Brent oil began the year at US$54.91 per barrel. Petrojam prices 87 Octane prices increased this week by 2.12% (JMD$2.66). Additionally, 90 Octane rose by 2.08% or (JMD$2.66) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$127.94 and J$130.78 per litre respectively. Figure 1:
AMG reports total comprehensive income of $11.03 million for the year
October 16, 2019 AMG Packaging 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. For the quarter turnover was down 3% to close at $174.68 million (2018: $180.17 million). Total cost of sales amounted to $594.33 million, an increase of 7% relative to the corresponding period in 2018 of $555.62 million. Contributing to the increase in cost of sales was direct expenses which rose $13% to 145.88 million relative to $129.48 million. Cost of inventories also increased year over year by
PTL Reports 89% increase in first quarter net profit attributable to shareholders
October 16, 2019 Paramount Trading (Jamaica) Limited, for the three months ended August 31, 2019, recorded a 14% decrease in total revenues to $360.57 million from $417.08 million reported in 2018. The company highlighted that, “the reduction in revenue was mainly due to less than expected outturn in the construction and technical grade brands. We expect that the lost sales for the first period will be recovered during the second quarter.” Direct expenses closed the period at $254.12 million, a 10% decrease relative to the $282.89 million booked a year ago. Gross profit therefore declined by approximately 21% to $106.45