JP reports six months profit of $251 million.
Jamaica Producers Group Limited (JP) For the six months ended June 30, 2017: For six months ended June 30, 2017, Jamaica Producers Group Limited (JP) experienced a 62% increase in revenue to total $7.40 billion compared to the $4.57 billion reported in 2016. The company posted second quarter revenue of $4 billion a 66% increase (2016: $2.41 billion). According to the company “Revenues were roughly evenly split between the Group’s two divisions Logistics & Infrastructure (“L&I”) and Food & Drink (“F&D”). In line with the strong performance of Kingston Wharves, the largest of the Group’s subsidiaries (in terms of assets).”
Daily Market Summary- August 16, 2017
Please click below to view today’s Daily Market Summary. Daily Market Summary 16.08.17 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.
GENAC reported 88% decline in second quarter net profit
General Accident Insurance Company Limited (GENAC) For the six months ended June 30, 2017: GENAC reported net premium written of $673.34 million, 15% more than the $585.29 million reported for 2016. This was as a result of a 4% increase in gross premium written to $4.55 billion (2016: $4.37 billion), while reinsurance ceded increased by 3% from $3.73 billion last year to $3.82 billion. Excess of loss reinsurance grew by 4% to $53.57 million from $51.51 million. Net changes in unearned premiums totaled $55.57 million, 26% more than the $44.23 million recorded last year. Consequently, net premiums earned grew by