Proven Investment Ltd - Declared Dividend
Proven advised that at a meeting held on August 11, 2014 a US$0.0032 per share was declared to all ordinary shareholders on record August 27, 2014 with a payment date of September 10, 2014. X date August 25, 2014. Also a dividend payment of J$0.10 was declared for Preference Shareholders with a record date of September 9, 2014 and payment date of September 23, 2014. X date September 5, 2014.
Jamaica Teas Limited
JAMT experienced strong growth in revenues in the third quarter driven by a 47% increase in domestic sales from its manufacturing operations. The improvement in sales resulted from a combination of increased market share and launch of new product.
Q3 Rescues Honey Bun’s Financial Performance
While earnings for the nine month period were virtually flat, Honey Bun delivered a strong outturn in the third quarter (Q3). In Q3, sales increased by 14% while profits increased for that period by 406% over the prior year period to $11.8Mn. This was mainly as a result of significant improvement in the management of inventory and greater efficiencies in production.
Earnings Decline Sharply-Consolidated Bakeries (Purity)
For the six month period ended June, Consolidated Bakeries experienced a 39.8% decline in earnings to $14.6Mn (EPS:$0.07). The falloff in net profit reflected higher operating expenses which were up by 15.2%, on account of costs relating to engineering, branding and reorganization. On the revenue side, the company registered an increase in sales of 17.9% over the corresponding six month period in 2013, representing growth in all product categories.
The Planning Institute of Jamaica has indicated that in the April - June 2014 quarter, real GDP grew by an estimated 1.2% relative to the corresponding period of 2013. The Goods Producing Industry increased by 3.6% and the Services Industry recorded growth of 0.5%. Within the Goods-Producing Industry, increases in Agriculture, Forestry & Fishing (up 12.5%) and Construction (up 1.0%) outweighed declines of 0.6% and 0.3% recorded by Mining & Quarrying and Manufacture, respectively. All subcategories of the Services Industry recorded growth except for Producers of Government Services (down 0.2%) and Electricity & Water Supply (down 1.6%). The industries registering the largest increases were Hotels & Restaurants (up 2.7%); Transport, Storage & Communication (up 1.3%); and Other Services (up 1.0%).
For January – June 2014, real GDP was estimated to increase by 1.4%
The Board of Directors of Pan-Jamaican Investment Trust Limited will consider the payment of a third interim dividend for the year 2014 at a meeting to be held on August 12, 2014.
The Board of Directors of LASCO Financial Services Limited has declared an interim dividend of $0.03 per share payable on September 2, 2014 to shareholders on record as at August 21, 2014. The ex-dividend date is August 19, 2014.
National Commercial Bank Jamaica Limited (NCBJ) has advised that the decision has been taken that Mrs. Nadienne Neita, Assistant General Manager - Corporate Banking Division, will demit office effective August 15, 2014. NCBJ advised that this decision had been taken in the context of the on-going review of the organisational structure at all levels.
The Annual General Meeting of Medical Disposables & Supplies Limited will be held on Tuesday, September 30, 2014 at 10:00 a.m. at the Courtleigh Hotel & Suite, 85, Knutsford Boulevard, Kingston 5.
Supreme Ventures Limited has advised that its office that was situated at the 8th floor, Sagicor Sigma Building, 63-67 Knutsford Boulevard, Kingston 5 has been relocated to 9A Retirement Crescent, Kingston 5. The following Divisions have been relocated: Human Resources, Sports Betting, Security & Surveillance, Facilities & Maintenance, VLT Operations, Business Development and Corporate Secretariat.