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Lumber division revenue fell from $366.8 million in 2013 and that of the Soap Division grew from $154 million to hit, $360.8 million and $175.7 million respectively, resulting in total revenues falling 6 percent in the October quarter to $259 million and rising 3 percent for the six months to $536 million. Sales in the Lumber Depot division fell from $191 million last year, to $176 million this year, there were some one off sales, in 2013. Profit in the lumber division fell as well, from $29 million to $17 million for the half year. Notwithstanding, pressure on sales, margin improved during the year. The company held a tight lid on cost in the latest quarter, but administrative cost climbed 20 percent for the six months.
Earnings per share are still strong at 91 cents and should go on to approach the $2 level, by year-end. The stock last sold at $6.50, is undervalued and should enjoy some recovery in price. IC Insider is maintaining its BUY RATED status on the stock although a return to growth in profit s may have to await the 2016 fiscal year.The stock is listed on the junior market of the Jamaica Stock Exchange. The company primarily manufactures soaps and trade in Lumber.
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