The Orchid property being developed that should add to Jamaican Teas’ profits in 2015 & 2016.
Trading in the Junior Market closed with 6 securities traded and ended with 122,569 units valued at $215,553 being active. The JSE Junior Market Index fell 3.08 points to close at 665.49, with the price of one advancing 3 declining. At the close of the market, there were 2 stocks with bids higher than their last selling prices and none with offers that were lower. The junior market remains on the weak side with 8 securities closing with no bids to buy. There were 6 securities that had no stocks being offered for sale.
General Accident closed with 92,805 units trading, the price slipped 10 cents to $1.65, Honey Bun completed trading with 10,018 shares changing hands to close 10 cents up to $2, Jamaican Teas finished with 5,000 shares trading lower by 34 cents $2.50, to a new an all-time low. Paramount Trading ended trading with 7,000 shares changing hands to close at 5 cents lower at $2.55, Caribbean Producers ended trading with 1,746 shares changing hands to close at $2.15 and Consolidated Bakeries closed with 6,000 shares at 82 cents.
[…] Jamaican Teas reported sharply lower profit, last year to September, of $52.7 million versus $93 million in 2013, with earnings per share of 31 cents. The figures were reported in the group’s audited financial statements release last week. The results emanated from sale revenues of $1.14 billion down from $1.23 billion in 2013. There was approximately $50 million coffee sales included in the 2013 results with none in 2014. In 2013 the real estate segment contributed $185 million in revenues compared to only $26 million in 2014 with most coming in the September 2013 quarter. Gross profit margin shrank slightly from 21.89 percent to 21 percent for the year, helping to cut gross profit by $17 million. Other operating income climbed to $24.7 million from $12.9 million in 2013, partially due to losses on sale of, and impairment of investments incurred in 2013, amounting to $13.5 million, but did not occur in 2014. […]