JAMT “Brews” 18.6% Increase in Earnings for H1

Buoyed by robust growth in revenues, Jamaica Teas (JAMT) reported good growth in earnings. Net Profit grew by 18.6% to $51.2Mn (EPS: $0.30) during the six month period (H1).

Increase in exports and retail supermarket sales pushed top-line income ahead by 44% to $528.2Mn. The company’s diversified revenue streams continue to boost earnings as profits from its real estate investment have helped to shore up its bottom-line. Nevertheless, although the company did not participate in the recent National Debt Exchange programme, it realized losses of $3Mn on the sale of some of its investments. JAMT’s trailing P/E stood at 8.18X.