D&G profit fell in Q4

Red Stripe tinProfit fell to $815 million for Desnoes & Geddes, the brewers of the famous Red Stripe beer, in the final quarter of the fiscal year to June, versus $1 billion in 2014. Earnings per share came in at 83 cents with $1.12 in 2014. The latter includes gain on sale of investments in Eastern Caribbean breweries, equal to 35 cents per share. IC Insider is forecasting $1.05 per share earnings, for the year to June 2016.
Revenues came in at $4.4 billion for the quarter versus $3.8 billion in 2014, for the full year $16 billion versus $14.3 billion. Sales growth was helped by a combination of increased volume, product mix and price increase, the company stated. Royalties earned amounted to $533 million in the year and $525 million in 2014.
General, selling and administrative expenses were virtually static for the year at $1.26 billion compared to $1.22 billion but marketing cost rose 37 percent to $1.37 billion against an increase of 15.7 percent to $5.46 billion in gross profit.
For 2015, the company paid a dividend of 13 cents in March while a dividend 27 cents was paid in December last year, providing a yield of 12 percent based on the stock price of $4.10 on August 21 last year. Based on the increased profit and past dividend payments, investors can expect to see an increase for the next dividend payment.
The company’s stock last traded at $7 on Friday on the Jamaica Stock Exchange giving it a PE ratio of 8.4 and a 100 percent premium to net asset value.
The stock valuation may be on the high side just now compared with others in the market, there are a few things investors should focus on. These include the likelihood of increased sales that should occur in the period leading up to the next general elections, with the high dividend yield and falling interest rates the stock will become more attractive as an income generator in the not too distant future.

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  1. […] the news dominating the market is a J$31 offer proposed by Heineken to buy out all the shares in Desnoes & Geddes it does not now own. Heineken bought out the subsidiary of Diageo that owned the shares in Desnoes […]

  2. […] market of the Jamaica Stock Exchange indices jumped on the back of a $1 movement in the price of Desnoes & Geddes in response to an offer by Heineken for approximately J$31 per share for the shares it does not now […]

  3. […] N.V. (“HEINEKEN”) is to make an offer to acquire all of the minority shareholders shares in Desnoes & Geddes at US$ 0.259 per shares or the equivalent of J$31, the company stated in a release today. Udiam […]

  4. […] from the all-time high of 1,040.59. Cable & Wireless last traded 799,014 shares at 51 cents, Desnoes & Geddes traded 27,650 shares at $7 after gaining 38 cents, KLE Group had 228,390 units trading at a new low […]

  5. […] be at 102,052.74. The junior market inched up 7.52 points to 973.90. The main trades so far are, Desnoes & Geddes traded 3,095,177 units at $7.50 while gaining 50 cents, Mayberry Investments 178,500 units at $3 […]

  6. […] lower. In trading, Cable and Wireless had 528,065 shares changing hands and closed at 52 cents, Desnoes & Geddes traded 1,015,300 shares at $7 and gained 20 cents, Gleaner Company traded 7,000 shares at $1.85, […]

  7. […] 10 cents to $7.90, Carreras closed at $50.30 as the price gained 80 cents while 7,380 units traded. Desnoes & Geddes traded 50,000 shares but lost 40 cents in closing at $6, Grace Kennedy had 38,552 units changing […]

  8. […] million units. On offer between 48 and 50 cents, are 6 visible offers to sell 3.27 million shares. Desnoes & Geddes traded 2,337 shares at $6.40 with a fall of 40 cents, Grace Kennedy had 108,148 units changing hands […]

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