Consolidated Bakeries (Jamaica) Limited Reports Dip in Q1 Profits
- Consolidated Bakeries reported a decline in profits for the three-month period ended March 31, 2019. Net Profits ended the period at $13.58Mn (EPS: $0.06) which represents a 34.3% fall relative to the corresponding period of 2018.
- Contributing to this performance was a decline in interest and other income which fell 20.8% whilst administrative & other expenses and cost of sales experienced increases of 8.8% and of 2.1% respectively.
- The stock has risen 15.9% since the start of the calendar year. Consolidated Bakeries closed trading yesterday at $1.97 and currently trades at a P/E of 65.67x earnings which is above the Junior Market Manufacturing sector average of 25.91.
(Source: Consolidated Bakeries Financials)