SELECTMD reports year end net profit of $160.54 million
Date: March 02, 2020 Sagicor Select Fund Manufacturing & Distribution (SELECTMD) for the twelve months ended December 31, 2019 reported net investment income of $200.56 million. While for the quarter, net investment income amounted to $152.79 million. Fees and other income closed the twelve months period at $220,000, however for the quarter, fees and other income totalled $60,000. As such, total revenue for the period under review equated $200.78 million, as for the quarter, this amounted to $152.85 million. The Company highlighted, “The fund holds securities listed on the JSE and would have benefitted from the price appreciation of stocks
SIL reports 88% increase in year end net profit
March 02, 2020 Sterling Investments Limited (SIL) for the year ended December 31, 2019 reported a 34% increase in total revenue to $148.37 million compared to $110.45 million recorded for the corresponding period in 2018. The Company noted that, “the increase reflected increased foreign exchange earnings and trading gains.” Of total revenue: Interest income closed the period at $98.30 million, up 4% from the $82.20 million for the comparable period in 2018. Foreign exchange gain amounted to $43.87 million compared to the gain of $23.01 million booked the prior year’s period. The Company stated that, “SIL’s portfolio benefited from the
GK reports 10% decrease in year end net profit
March 02, 2020 GraceKennedy Limited (GK) recorded revenue of $103.09 billion for the period (2018: $97.54 billion), a year over year increase of 6%. Revenue for the quarter of 2019 improved by 10% to $26.06 billion (2018: $23.72 billion). GK highlighted that, “this is a historic achievement, the first time that the Group has surpassed the J$100 billion mark for revenue, ahead of our original target of 2022, which will be the Group’s 100th anniversary.” Management noted that, “Our operational strategy for 2019 was focused on investing in our brands and expanding market share, deploying digital and innovative solutions for