Latest News

FJI declares dividend payment Published: 01 March 2011

The Board of Directors of First Jamaica Investments Limited has declared a dividend of $0.30 per share payable on March 25, 2011 to stockholders on record as at March 16, 2011. The ex-dividend date is March 14, 2011.

Pan JaM pays dividend Published: 01 March 2011

The Board of Directors of Pan Jamaican Investment Limited has declared a dividend of $0.32 per share payable on March 31, 2011 to stockholders on record as at March 16, 2011. The ex-dividend date is March 14, 2011.

SLJ appoints Executive Vice President Published: 25 February 2011

Sagicor Life Jamaica Limited (SLJ) has advised that Mr. Rohan Miller, a member of the company`s Executive Management Team has been appointed to the position of Executive Vice President and Chief Investment Officer of Sagicor Life Jamaica Limited and its subsidiary, Sagicor Life of the Cayman Islands, effective March 1, 2011. SLJ has also advised that effective March 1, 2011, Mr. Ivan Carter, whose current designation is Senior Vice President (SVP) will be reclassified as an Executive Vice President (EVP).

JMMB pays dividends on preference shares Published: 25 February 2011

Jamaica Money Market Brokers Limited will pay dividends of $0.021875 per share and $0.024792 per share on its 8.75% and 8.50% preference shares respectively on March 7, 2011 to shareholders on record as at March 2, 2011. The ex-dividend date is February 28, 2011.

PCFS declares first quarterly preference share dividend for the year Published: 22 February 2011

The Board of Directors of Pan Caribbean Financial Services Limited has declared the first quarterly preference share dividend for the year 2011 in the amount of $6.16 per preference stock unit payable on March 17, 2011 to stockholders on record as at March 8, 2011. The X-date is March 4, 2011.

TCL releases further information regarding debt structuring exercise Published: 22 February 2011

With reference to the debt restructuring currently being undertaken by the TCL Group, Trinidad Cement Limited (TCL) has advised that FTI Consulting Canada ULC, a Company with broad experience and expertise in debt restructuring, has been appointed as the Independent Advisor to the TCL Creditor Committee. The Role of the Independent Advisor is, in the first instance, to assess the cash generating capability, operations and structure of the TCL Group and make appropriate recommendations to the Creditor Committee. Upon consideration and acceptance of the recommendations and, subject to the approval of the Committee, the Restructuring Phase will commence with the involvement of the Advisor.

Read more ...

KWL reports robust growth in profitability in 2010 Published: 21 February 2011

Kingston Wharves Limited (KWL) reported net profit of $887Mn (EPS: $0.56) for the 2010 financial year. This more than quadrupled net profit of $196Mn (EPS: $0.14) recorded over 2009. The performance was driven by increased volumes of cargos processed, actuarial adjustment of its pension fund and the appreciation of the local dollar which positively impacted financing costs which are predominantly US$ liabilities.

Net profit spikes in Q1 for Lascelles DeMercado Published: 18 February 2011

Despite flat revenue growth during the quarter, the conglomerate started the financial year on a bright note. Cost reductions across major expense lines helped to drive up the performance during the quarter. For the three month period ended December 2010, net profit jumped 37% to $821.3Mn (EPS: $8.56) compared to $601.1Mn (EPS: $6.26) in the first quarter of the 2009/10 financial year. Further improvement in operational efficiencies will be necessary over  subsequent quarters without further increases in gross revenues.

GKL records yearly decline in earnings; Subsidiary welcomes turnaround in profitability Published: 17 February 2011

GraceKennedy Limited (GKL) ended the 2010 financial year with net profit of $2.25Bn; 13% below the $2.57Bn that was recorded in 2009. Lower interest income, FX losses from the appreciation of the local dollar in addition to weak consumer spending all contributed to the performance throughout the year. However, its subsidiary Hardware and Lumber (H&L), welcomed a turnaround to profitability during the year. The company recorded net profit of $19.3Mn compared to the loss of $225.7Mn last year. The reduction in overhead costs in addition to the positive impact of the appreciation of the local dollar both contributed to the financial performance during the year.

RJR reports decline in quarterly earnings Published: 16 February 2011

With the group experiencing falling revenues along with rising expenses related to salaries and technology upgrades, net profit continues to decline. The third quarter ending December 2010 saw net profit declining 35% to $67.6Mn compared to $103.6Mn recorded in the same period in 2009. Year to date after-tax profits amounted to $140 million; a decline of 34% from the $212 million recorded over the corresponding period in 2009. The largest expenditure category was seen in administrative expenses which increased by 10%. This was due to the increase in salaries, professional fees and introduction of websites and internet activities to allow improved streaming capabilities and real time access to  news, sports and other features both locally and abroad. Management anticipates that these developments will yield favourable results in the medium term. However, the financial performance is likely to fall considerably below last year.