Daily Market Summary February 13, 2018
Daily Market Summary 13.2.18 The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any Action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
JAMT books 13% increase in first quarter net profit attributable to shareholders
February 13, 2018 Jamaica Teas (JAMT), for the 3 months ended December 2017, reported revenue for the first quarter ended December 2017 of $456.15 million, an increase of 22% compared to the $373.90 million booked for the corresponding period in 2016. According to the company, “Revenues from our manufacturing operations grew 40% in the period while supermarket sales increased by 9%. Export sales of manufactured products were up a very strong 66% while domestic manufacturing sales increased by 15%.” Revenue from the manufacturing segment amounted to $296.53 million compared to $212.51 million in 2016. Revenue for the ‘Property Sale & Rental”
CCC reports 12% decline in year end net profit
February 13, 2018 Caribbean Cement Company Limited (CCC) ,for the for the year ended December 31, 2017 reported total revenue for the year ended December 31, 2017 of $16.51 billion, a 5% or $732.3 million increase when compared with the $15.78 billion reported in 2016. Total revenue for the quarter amounted to $4.25 billion reflecting an increase of 11.9% over the $3.80 billion achieved in the corresponding quarter. Earnings before interest, tax, depreciation & amortization (EBITDA) amounted to $3.03 billion, an increase of 12% relative to $2.70 billion for the prior year’s corresponding period. For the quarter, CCC reported EBITDA of