Brighter future in AMG’s vision

AMG Packaging recently released full year results, with profits of $62.6 million, up 11.6 percent above the $56 million earned in 2020, and profit rose 12.7 percent to $20 after tax in the August quarter from $18.4 million after a tax credit in 2020.

AMG Packaging warehouse

Revenues rose a mere 5.3 percent, from $187 million in the August 2020 quarter to $197 million and slipped 2 percent from $720 to $706 million for the entire year. Other income contributed $4 million in the 2021 final quarter versus $1.9 million in 2020 and $6.6 million for the year, from $4 million in 2020.
The company realized an improvement in its gross profit margin that increased in the August quarter to 28 percent from 25.7 percent in 2020 and rose to 29 percent for the year versus 25.3 percent in 2020. Input cost rose 2 percent for the 2021 fourth quarter to $141 million and declined 7 percent for the year to $501 million from $538 million. Operating profit rose 14.5 percent in the quarter to $55 million from $48 million and popped 12.6 percent for the year, to $205 million from $182 million in 2020.

Michael Chin

Administrative expenses rose 28 percent to $27.8 million in the quarter and increased 6 percent to $92 million for the year. Depreciation charge slipped from $6.2 million to $5.9 million for the quarter and rose marginally from $23.4 million to $24.3 for the year and will increase in the new year with the addition of new equipment. Finance cost slipped 7 percent in the February quarter, to $2 million from $2.2 million in 2020 and declined 9 percent from $9 million to $8 million for the year.
The business generated gross cash flows of $94 million but growth in working capital, acquisition of fixed assets. It ended with a cash deficit of $129 million that resulted in a reduction in the $259 million on hand at the end of August 2020. The fiscal year ended with shareholders’ equity of $610 million long, term borrowings at $99 million and short term at $18 million.

AMG paper binding machine

Current assets ended the period at $480 million, including $221 million in inventories, receivables of $96 million, equipment in transit of $33 million and cash and bank balances of $131 million. Current liabilities ended the period at $167 million. Net current assets ended the period at $313 million. Questioned why the amounts in inventories more than doubled, from $107 million in 2020, Michael Chin, General Manager, indicated that three orders placed months ago all came recently, as disruptions obtaining raw material makes continues. Additionally, paper shortage on the world market has seen prices jumping 17 percent for November orders, with the cost, he says, “climbing 46 percent since March.”
Earnings per share came out at 4 cents for the quarter and 12 cents for the year to date. IC Insider.com forecasts 35 cents per share for the fiscal year ending August 2021, with a PE of 5 times the current year’s earnings based on the price of $1.70, the stock traded on the Jamaica Stock Exchange Junior Market Friday. Net asset value is $1.19, with the stock selling at 1.4 times book value.
Chin sees a significant benefit to flow from the $150 million factory expansion and upgrading project. Construction of the new facility is complete and now stores raw and some finished goods. Chin states that machinery and equipment in transit are expected on the island this month and will be installed by February next year.

Addition to the factory to house new machine, now used for storage.

“The new machine will lead to a reduction in operating costs and provide capacity to increase production, using either virgin or recycled paper,” Chin informed this publication. One existing machine will be retired with the new one in place. Accordingly, “the new machine will do the work of two machines currently, that will involve, cutting, folding boxes and printing in multi-colour, in one seamless operation,” Chin advised. Another benefit of the new operations is the ability to store finished goods, which will allow for more continuous operation processing. It will also provide adequate space to store recycled paper in large quantities that were not possible, before the completion of the expansion, as it requires in house storage, unlike the virgin paper that can and is stored outside.
Looking forward, Chin indicates that production is back to pre Covid19 levels in the past two months; he explained that the company now employs a sales representative who will seek new business after the installation of new machinery and operational. Directors will be meeting on November 16 to consider the payment of a dividend; the last dividend was 2 cents paid in December 2019 when the profit was $59 million with earnings per share of 12 cents.

About IC Insider.com
Обновили на порносайте pornobolt.tv порно страничку о том как парень выебал пизду мачехи, которая устала от своего муженька Комиксы, Манга читать онлайн на Русском языке

Brand new Partner with our doctors to make you happy is Omtogel RTP

Play Pin-up aviator Slots and e-Diet in Polska.