JAMT reports first quarter net profit attributable to shareholders of $27.70 million
February 04, 2020 Jamaican Teas Limited (JAMT) reported a 15% increase in revenues to total $433.08 million (2018: $378.23 million). JAMT stated that this increase was “due to increased export sales in the manufacturing business and a 9% increase in our supermarket business which became wholly owned again on October 1 2019 when Jamaican Teas Limited acquired the 50 per cent of Bay City Foods Ltd previously owned by Amalgamated (Distributers) Ltd.” Cost of sales increased by 10% to $314.35 million (2018: $286.46 million), in which gross profit went up 29% to close at $118.73 million (2018: $91.78 million). JAMT
ROC reports 40% increase in year end net profit
February 04, 2020 IronRock Insurance Company Limited (ROC), for the year ended December 31, 2019 posted gross premiums of $701.42 million relative $571.84 million; representing a 23% increase. Fourth quarter gross premium amounted to $226.81 million, a 19% increase when compared to $190.33 million for the corresponding quarter of 2018. Proportional reinsurance amounted to $413.41 million compared to $321.71 million in 2018. Excess of loss premium totalled $42.17 million relative to $35.14 million in the previous year. As a result, net premium amounted to $245.84 million relative to $215 million in 2018, a 14% increase year over year. For the quarter,
Board Resignation/Board Appointment: Caribbean Producers Jamaica Limited (CPJ)
Date: February 3, 2020 CPJ has advised that outgoing CEO, Dr. David Lowe, has been engaged as a consultant following his resignation which took effect on January 31, 2020. Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report. Company Disclosure -The information