D&G elevated to Buy Rated!

Desnoes & Geddes brewers of the world renown Red Stripe beer reported profit before taxation of $2.45 billion, a 102 percent increase over the $1.2 billion generated in 2012 and net profit of $1.95 billion. The huge jump in the bottom line came from booking capital gains from the sale of its interest in two eastern Caribbean Breweries in the December quarter, which contributed $970 million to the profit. Excluding this one-off capital gain would result in the 2013 numbers coming in at $1.479 billion for pretax profit or an increase of 21 percent, and $976 million after tax versus $808 in 2012. This translates to 35 cents per share for the six months period.

Profit in the local market before administrative and selling expenses rose 22 percent to reach $1.56 billion but export profits fell slightly to $402 from $468 million in 2012. Based on the latest results, IC Insider is forecasting 80 cents per share earnings for the year to June 2014 and $1.10 for 2015. Based on the company’s expected performance, IC Insider has elevated Desnoes & Geddes to Buy Rated status.

D&GBeerCap280x150pxSales | Revenues grew 12 percent to $7.30 billion, compared with $6.5 billion in 2012 for the six months and grew by a more robust 18.5 percent in the latest quarter to $4 billion.

“The domestic portfolio continues to grow, increasing by 23 percent on growth in the brewed portfolio as well as improved pricing. Export sales declined 28 percent as the shift in production from Jamaica to the USA during the last financial year,” management stated in their release with the financials.

Gross Profit margin ended at 72 percent for the December quarter and 70.8 percent for the six months but the 2012 six months numbers were at a high of 75.8 percent.

Expenses | D&G was able to cut cost even as revenues rose. Marketing cost declined by 9 percent to $497 million, which the company attributes savings as a result of funds expended in 2012 on Jamaica’s 50th independence celebration. Cost containment and the outsourcing of the distribution of its products led to the reduction in general, selling and administrative cost with a fall of 9 percent to $542 million for the six months to December.

Finances | Cash resources climbed to $1.7 billion at the end of 2013 from $1.2 billion in 2012 but receivables jumped to $2.95 billion from just over a $1 billion in 2012 and $1.1 billion in June 2013. The company attributes the rise due mainly to full credit being given to its associated distribution company.

Related posts | D&G, Carreras & C&WJ now Buy RatedD&G $1billion pay day | Profit inches up at D&G

About IC Insider.com

Trackbacks

  1. […] ending June 2015 and $1.05, for the following year. The stock which last sold at $4.95 remains an IC insider BUY RATED […]

  2. […] Desnoes & Geddes will be paying an interim dividend of 27 cents per share on December 15, to shareholders on record at November 13. The stock will trade ex-dividend on November 11. The company paid an interim dividend of 20 cents per share and a special dividend of 5 cents per share on December 20, last year. They also paid interim dividend of 10 cents per share and a special dividend of 15 cents per share on May 16, 2014. […]

  3. […] Insider has added Desnoes & Geddes, Carreras and Cable & Wireless Jamaica to the Buy Rated […]

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.