Featured Stock: Jamaican Teas Limited (JAMT)
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PAL reports 130% increase in year end net profit
The Palace Amusement Company (1921) Limited (PAL) for the year ended June 30, 2017 booked a 9% increase in revenues to $990.14 million (2016: $909.24 million), while for the fourth quarter, an increase of 20% was observed. For the quarter, revenue rose to $299.06 million relative to $249.33 million in 2016. Direct expenses for the year inched up by 8% to $789.25 million (2016: $728.02 million). As a result, gross profit improved by 11% to $200.89 million (2016: $181.23 million). The gross profit for the quarter totalled $71.93 million from $51.57 million, following a 15% growth in Direct Expenses year
ROC reports 93% increase in net loss
For the six months, IronRock posted gross premium of $173.35 million relative $38.48 million; this represents a 350% increase. While for the second quarter gross premium was $111.41 million relative to $31.46 million for 2016. Change in gross provision for unearned premiums amounted to $132.07 million compared to $30.42 million in 2016. Excess of loss premium totaled $12.89 million relative to $4.12 million. As a result, gross insurance premium revenue amounted to $28.39 million relative to $3.994 million. Net insurance premium revenue amounted to $23.09 million, relative to a loss $2.44 million in 2016. Commission expense totaled $10.62 million in