NCB Financial Group advises that its board meeting to consider and approve the release of the nine-month unaudited financial statements at a board meeting scheduled for August 4, 2020.
NCB Financial Head Office
The company stated that further releases issued in April and May this year, they are confirming that a dividend is not likely to be declared at the meeting.
The group enjoyed a 41 percent increase in profit in its first quarter, but that fell in the second quarter, with a net profit of $13.4 billion for the first six months of the 2020 financial year. Net profit attributable to our stockholders was $9.6 billion, a 23 percent or $2.9 billion decline from the prior year. The preceding year’s results included a one off-gain of $3.3 billion from the disposal of our interest in an associate company. Excluding this gain, net profit would have increased by $408 million or 4 percent over the prior year.
Inflation over the past twelve months came out at 4.2 percent, with the period between July and November rising by exactly 4.2 percent, mostly due to a hike in the exchange rate of the Jamaican dollar versus the US dollar.
Within half an hour of trading, the Junior Market Index crossed over the 2,700 points mark to 2,706.06 and is up 63.25 points from Thursday close and is ahead of the March 5 ending of 2,656.41 points but lower than the close on March 4 of 2,758.76, but is some distance from the February close of 2,911.92.
Bids in the market to buy are sparse with twenty bids to buy between $1.02 and a low of 50 cents, while sellers are dominant with 600 on the offer to sell from $1.03 upwards.
Among blockbusters which have been rescheduled, are the highly anticipated Fast and Furious 9 now pushed back one year to April 2021, No Time to Die, the new James Bond movie, now set be released in November and Disney’s Mulan and New Mutants which are delayed without any new release dates attached.