Eppley reports 51% increase in for the first quarter of 2017
For the three months ended March 2017, Eppley Limited (EPLY) reported interest income of $62.54 million an increase of 42% when compared to the $43.97 million recorded the previous year. Interest expenses amounted to $36.86 million, a 29% increase when compared to $28.58 million for the corresponding period in 2016. Consequently, net interest income increased 67% to $25.68 million from $15.40 million for the corresponding period of 2016. Other operating income declined by $1.56 million to a total of $10.09 million relative to $11.64 million in 2016. Administrative expenses rose 23% to close at $20.29 million from $16.48 million the
GK reports a 28% decline in net profit for the first quarter of 2017
For the three months ended March 31, 2017,GraceKennedy Limited (GK) reported total revenue of $23.69 billion for period (2016: $22.13 billion), a year over year increase of 7%. The biggest contributor to the group’s overall revenue for the first quarter was income from the ‘Food Trading’ segment which contributed a total of $18.82 billion (2016: $17.82 billion), an increase of 6% relative to the prior year’s corresponding period. Management noted, “this segment showed growth in revenue, primarily due to higher sales from our Jamaican foods distribution and supermarket business when compared to the corresponding period of 2016.” Notably, GraceKennedy Foods
JAMT reports 33% increase in net profit for the Second Quarter of 2017
Jamaican Teas Limited (JAMT) reported revenue for the second quarter ended March 2017 of $386.11 million, an increase of 37% compared to the $281.30 million booked for the corresponding period in 2016. Year to date, the company reported a 21% increase in Revenue to total $760.01 million (2016: $625.91 million). According to the company, “Export sales increased by $40 million, while our residential property sales recorded an increase of $60 million for the quarter.” Other Income increased by 48% for the quarter moving from $14.94 million in 2016 to $22.09 million in 2017. Cost of sales increased 24% to $589.90