Berger Paints continue to enjoy an outstanding year, with an increase of 61 percent in after tax profit of $153.6 million from $95.3 in 2014 for the nine months period from on sales that rose 11 percent to $1.67 billion from $1.496 billion in 2014 and 12 percent in the December quarter to reach $759.4 million up from $678.5 million.
For the last and best quarter for revenues and profit, growth in profit after tax slowed to just 26 percent to hit $79.6 million, up from $63 million in 2014. Petroleum constitutes a major item of material into paint production and with the decline in oil prices on the world market, Berger should see a cut in cost that will help the profit margin.
The company generated operating cash flow of $193 million for the nine months compared to $147 million in 2014. Earnings per share for the quarter, is 37 cents and 51 cents for the nine months and is projected for the full year to be in the order of 65 cents.
One of the great attraction for the stock which is undervalued, is the high dividend payment that investors can expect, especially with strong gains in profit. The stock closed at $4 in trading in Tuesday, on the Jamaica Stock Exchange.
Berger Q3 profits up 26%
February 2, 2016 by
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[…] Barita Investments ended with a loss of 28 cents as 655,019 units traded to close at $4.28, Berger Paints rose 47 cents to end at a 52 weeks’ high of $4.75, with 2,350 units traded. Cable and Wireless […]
[…] higher than their last selling prices and 5 with lower offers. At the end of the market activities, Berger Paints lost 5 cents and ended with 18,799 shares trading at $3.95, Cable & Wireless closed with a gain […]