Carreras Announces Relocation to New Headquarters

• Effective November 11, 2024, Carreras Limited will be relocating its Corporate Office at 13A Ripon Road, Kingston and its Sales and Distribution Office at 35 Hagley Park Road, to a new Headquarters at 8 Automotive Parkway, Kingston 20.
• We anticipate that consolidating both offices into a single headquarters should allow Carreras to streamline its business processes and potentially reduce operating costs. The new location on Automotive Highway (off Ferry) offers convenient access to major toll roads (East-West & North – South), which would significantly enhance distribution efficiency. Carreras joins a series of manufacturers and distributors, including Tropical Battery, GraceKennedy, and Wisynco, who have made similar strategic relocations to optimize their logistics and reduce costs.
• CAR’s stock price has increased by 17.6% since the start of the calendar year. The stock closed Monday’s trading session at $9.70 and currently trades at a P/E of 13.2x, which is above the Main Market Manufacturing & Distribution Sector Average of 12.8x.

(Sources: JSE & NCBCM Research)