KEX reports 40% increase in year-end net profit
Knutsford Express Services Limited (KEX) for the year ended May 31, 2017 reported total revenue of $752.40 million, a 290% or $167.91 million increase when compared with the $584.49 million reported for the prior financial year. Revenue for the quarter amounted to $199.73 million, an increase of 69% from the $118.14 million for the same period last year. Administrative and general expenses closed the year at $580.57 million, a 30% growth from the $447.80 million recorded in 2016. Within the quarter administrative expenses were up 64% to close at $151.33 million (2016: $92.15 million). As such, gross profit for the
GraceKennedy Reports a 19% Decline in Six Months Net Profit
Grace Kennedy Limited (GK) for the six months ended June 30, 2017 reported total revenue of $46.37 billion (2016: $44.12 billion), a year over year increase of 5%. The biggest contributor to the group’s overall revenue for the six months was income from the ‘Food Trading’ segment which contributed a total of $36.29 billion (2016: $34.62 billion), an increase of 5% relative to the prior year’s corresponding period. Management noted, “revenue was primarily driven by higher sales from our Jamaican foods business. However, pre-tax profit was lower than the corresponding period of 2016 due primarily to lower margins and higher
NCB reports 48% increase in nine month net profit.
National Commercial Bank of Jamaica Limited (NCBJ) For The Nine Months Ended June 30, 2017 Net Interest Income increased by 5%, relative to the corresponding period in 2016, to total $22.19 billion (2016: $21.04 billion). For the quarter, Net Interest Income for improved 9% to close at $7.56 billion (2016: $6.92 billion). Interest income rose 8% year over year to $31.63 billion compared to $29.21 billion in 2016, while interest expense amounted to $9.44 billion relative to $8.17 billion for the corresponding period in 2016.Net Fees and Commission Income amounted to $10.42 billion, an increase of 31% on 2016’s $7.98 billion.