Profits up 28% at Jamaican Teas

Trackbacks

1. Access drops 46% junior market says:

   August 24, 2015 at 2:22 pm

   […] of 1 cent, Lasco Manufacturing with 37,642 units changing hands, closed at $1.85, up 1 cent and Jamaican Teas variable rate bond traded 8,000 units to close at […]

2. Profit grows at Jamaican Teas says:

   August 23, 2015 at 4:37 pm

   […] Jamaican Teas reported profit of $27 million in the June quarter, 35 percent ahead of the March quarter and an 8 percent increase from the similar period in 2014. Nine months’ profit to June was $70 million, an increase of 13 percent over the similar period in the prior year. Earnings per share came in at 16 cents for the quarter and 42 cents for the nine months should end around 80 cents for the full year if the houses with signed agreements are handed over and would put the PE ratio at 4 times earnings, net asset value is $4.36 per share for a discount to the last traded price of $3.10. Investors should not lose sight of the unrealized gains on investments which stood at $12 million. The group is enjoying strong export sales since the commencement of its current financial year with an increase of 48 percent from $194 million to $287 million for the nine months with the latest quarter, moving from $76 million to $103 million. This contributed to the overall increase in sales which moved from $300 million to $324 million, an increase of 8 percent over prior year quarter and $936 million for the period to June compared to $834 million in the prior year. The export performance comes mainly from changes in the distribution channel in the New York area which started in December 2014 and normalization of sales in the Florida area, following a shift from two distributors to one in 2014. Local sales for the manufacturing segment that are up 2.5 percent for the nine months, suffered an 8 percent fall in the June quarter. Delivery of the vast majority of the 29 houses completed in the group’s real estate development, is expected to start in September, with sales revenue and profit to be booked in the quarter. According to Jamaican Teas in their report to shareholders, “the month of August commenced with a significant backlog of export orders resulting expected increase export sales for the September quarter over 2014. Our retails sales have also shown a slight upturn ahead of last year and local sales have improved with the first month’s sales being ahead of the prior year”. Taxation| Jamaican Teas has now marked its fifth year of being listed on the Junior Market of the Jamaica Stock Exchange, accordingly, effective with the September quarter, the Company will be subjected to taxation at 50% of the standard corporate rate, resulting in a tax charge of 12.5 percent. At June, shareholders equity stood at $723 million and borrowings at $408 million. With the completed sale of the houses borrowings should fall to $200 million. […]

3. Teas could have a good year says:

   May 26, 2015 at 6:06 am

   […] Jamaican Teas enjoyed good exports sales for the second quarter to March continuing the appreciable growth in the first quarter. Exports moved by 26.6 percent from $64 million to $81 million for the latest quarter and year-to-date $118 million moving to $184 million for an increase of 56 percent. The strength in exports contributed to the overall increase in sales which moved from $259.2 million to $292.5 million, an increase of 12.8% in the quarter, helping to push profit to $20 million in the March quarter, a 19.8% increase from the comparable period in the prior year. Profit for the six months to March was $43 million, an increase of 16.2% compared to the related period in 2014. Earnings per share is up to 26 cents for the six months and 12 cents for the quarter, with the expected completion of sale of units in the development property earnings could end up around 80 cents per share for the fiscal year, this could change depending on whether the company disposes of some of the equities it is holding. Sales for the six months to March 2015, are up 14.4 percent to $611 million from $534 million in the prior year. Exports were helped considerably by the coming on board of a new distributor in the eastern cost of the United States which will see the company products being sold in Wall Mart stores during 2015. Exports were also helped by restoration of sales in the Florida area that was disrupted in the previous financial year from modification in distributorship in that area. Local sales in the manufacturing operations are ahead of the prior year but are not a buoyant as could be expected. […]

4. One broker pulled juniors down says:

   May 14, 2015 at 3:38 pm

   […] Honey Bun had just one trade of a mere 2,729 shares with the price falling 40 cents, to $2.50, Jamaican Teas closed trading with 2,170 units and lost 25 cents to $2.65, Lasco Distributors traded 89,880 shares […]

5. Juniors still cannot pull out traders says:

   April 10, 2015 at 2:33 pm

   […] Stocks trading in the junior market are, Access Financial Services trading 900 shares at $13.22, Jamaican Teas lost 2 cents in closing at $2.53 with only 1,720 shares changing hands and Lasco Financial Services […]