Product expansion at AMG

AMG Packaging (AMG) a junior market listed company advised the Jamaica Stock Exchange of their decision to expand into the manufacturing of toilet paper and hand towel. AMG will be manufacturing these additional products, at a facility leased on Orange Street, downtown Kingston and anticipates starting production by the end of October 2015.
amg-packaging280x150The company says it “ is confident that this new venture will aid in decreasing the importation of products, provide meaningful employment opportunities subsequently assisting the growth of the Jamaican economy.”
AMG Packaging ventures into the new ventures at a time when it appears that real growth in it’s existing business has slowed considerable in the past year, the new business is likely to boost sales volume and ride on some of the existing overhead costs of the current Packaging operations.
AMG Packaging, currently, involved in the manufacturing of boxes, for packaging, reported a 42 percent jump in the nine months’ profits to May 2015 of $52 million, compared to $37 million in 2014. Profits grew 58 percent for the latest quarter to $21 million over that of 2014. Sales revenue rose just 4.5 percent for the nine months to May, this year, to reach $462 million and is up by 6 percent for the last quarter, hitting $161 million. The increased revenues in the May quarter and nine months to May this year, is well down on the strong 36 percent rise in the May 2014 quarter of $152 million and 40 percent in the nine months to May, to reach $442 million.
Toilet tissue and hand towels are products that are sensitive in nature including pricing, is likely to have a wider market than the existing products of the company.

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