Blue Power profits continue up

November 29, 2013 by

Blue Power recorded 33 percent increase in sale revenues to $275 million for the October quarter this year compared to $208 million for the same period last year. The Lumber Depot division achieved sales of $191 million versus $135 million the previous year, an improvement of 42 percent while the Blue Power Soap Division saw sales moving up from $73 million to $84 million for an increase of 15 percent.

Profits for the quarter came in at just over $25 million compared to a shade under $19 million in the same period last year, an increase of 34 percent. The contribution of Lumber Depot contributed over $11 million, improving by 80 percent over the same period in the previous year while Blue Power division added $14 million which was an improvement of 10 percent over the second quarter of 2012. Earnings per stock unit improved from 33 cents to 45 cents in the quarter, an improvement of 36 percent.

Sales grew 18 percent for the six months ended October to $521 million compared to $440 million for the same period last year of which the Lumber Depot division contributed $367 million versus $289 million the previous year, an improvement of 27 percent while the soap division moved up from $152 million to $154 million, an increase of only 2 percent.

Lumber150x150Profits increased by 26 percent for the six months to $55 million compared to $44 million in the same period last year. $29 million of the profit for the half year came from the Lumber division for a strong 49 percent increase over the same period in 2012 while Blue Power contributed $26 million which was an improvement of 8 percent. Earnings per stock unit moved from 77 cents to 98 cents in the period, an increase of 27 percent. IC Insider is forecasting earnings for the full year to April 2014 at $2.30 per share and $2.85 for the 2015 fiscal year. The stock remains BUY RATED.

Cost | The group has been able to keep administrative cost under control with figures for the six months showing a slight fall of $1.4 million to end at $62.3 million, while the latest quarter saw a rise of $3.8 million to $34.3 million, a 12 percent increase.

With the shift of increased sales to lumber division, margins shanked in the October quarter to 26.3 percent from 30.3 percent in 2012 and for the year to date 27.3 percent versus 31.2 percent in 2012.

Finances | The group was in a strong position at the end of October with cash funds $126 million, which is down from April’s $145 million, but more funds are now reflected in receivables and inventories which are up by $30 million and $22 million respectively. At the same time payables declined by $11 million. Shareholder’s equity rose to $392 million at the end of the latest quarter.

Blue Power is an IC Insider Buy Rated Stock

Related posts | New additions to Buy Rated stocks | Blue Power profit up 20% | Blue Powered huge profit increase

Filed Under: Company News, Company Results Tagged With: ,

Teas profit up 32 percent

November 27, 2013 by

Jamaican Teas just reported a 32 percent rise in profit for the year to September from a 49 percent jump in sales. The company earned profit attributable to the group’s shareholders of $99 million for the year versus $75 million in 2012.

For the last quarter, the group reported profit of $23 million compared $6.2 million in the similar quarter in 2012. The results for the quarter reflect the booking of revenues resulting from the completion of the real estate development and sales of all but two of the units. The 2012 last quarter figures were negatively affected by an adjustment for impairment to an investment amounting to $9 million.

Sales up | The Group recorded improvement in sales for the year increasing by 49 percent to $1.23 billion versus $824.5 million in the prior year. This was due to mainly increased supermarket sales, a strong 46 percent growth in export sales and income from sale of units in the real estate development.

While sales for the manufacturing division were up 26 percent for the year they were only up 5 percent for the latest quarter partially due to flat exports, which was affected by the termination of the sale of coffee that was included in last year’s figure while there were none in the latest quarter.

Image from Behance.net

Image from Behance.net

The sales performance was also helped by Caribbean Dreams’ Jamaica Blue Spring Water, which was introduced shortly before the commencement of the start of the fiscal year.

Sales at the Kingston supermarket in last quarter were up on the similar quarter in 2012 by 15.8 percent and up by 20 percent for the financial year.

Investments | The group holds $140 million including stocks and bonds and generated income of more than $30 million from them during the year. The amount is a part of other income which amounted to $40 million versus $23 million in 2012.

The group absorbed losses of $4.8 million in the latest quarter for the associated company that operates a supermarket in Montego Bay and a loss of $11.3 million versus $8.4 million for 2012. The company made $2.5 million adjustments to differed tax assets during the year based on the change in tax rate to 25 percent thus increasing the loss for 2013 by that amount.

Cost increase | Administrative cost rose by 20 percent to $86.5 million and distribution and marketing cost rose 69 percent to $30.4 million. The admin cost rise is partially due to the booking of the full year’s cost for the supermarket in Savannah La Mar versus only part year cost in 2012 and increased labour cost. Finance cost rose from $8.36 million to $11.3 million due in part to increased borrowings to fund the real estate development and the acquisition of the new factory building.

Statement of Financial Position | Inventories increased mainly as a result of increased cost of inputs and the cost of inventories at the supermarkets due to rising local cost flowing primarily from the devaluation of the Jamaican Dollar. The receivables rose sharply due to pending completion of sales for the apartments sold and increased export sales, especially the last two months of the financial year, causing in the total due from overseas’ customers to rise.

Borrowings | Borrowings jumped from $113 million in 2012 to $245 million at the end of 2013 financial year but this was effectively $162 million as $83 million represented a loan that was kept as a bank deposit for a short time after the year end. The increased borrowings related to the development of the apartment complex and funding of the purchase of the property to house the factory for the manufacturing operation. Subsequent to the year end, most of the short term borrowings were either paid off or converted into long term loans. The amounts used in the funding the construction of the apartment complex were fully liquidated after the year end. Jamaican Teas issued 5 year bonds amounting to $105 million, fixed at 8.5 percent for two years after the balance sheet date. The funds will be mostly used to fund the company’s next real estate development. At the end of the year, shareholder’s equity stood at $596 million, a $85 million increase over 2012.

JamaicaTeas+SliderOutlook | “We expect to build on the foundation created to date. New lines were recently added that will positively impact sales and profit in the new fiscal year. We expect that our latest real estate development planned for St Thomas will contribute positively to profit during the year. Our expectations are that export sales should continue to perform well and so far the local market seems to have stabilized.” Management stated in their release to shareholders.

If the company successfully executes the new real estate development and sales in the other segment continues to grow at close to that of the last year, then the group should go on to see another record year of profit in 2014.

Jamaican Teas is an IC Insider Buy Rated stock.

Related posts | Jamaican Teas lists corporate bond | New additions to Buy Rated stocks | Exports push Jamaican Teas’ profit

Filed Under: Company News, Company Results Tagged With: ,

Jamaican Teas lists corporate bond

November 25, 2013 by

Monday, 25th November 2013 | Tanisha Samuels, Assistant to CEO John Mahfood, inserts the Jamaican Teas fixed & variable rate banner in the slot on the Jamaica Stock Exchange board prior to the start of trading today. To her left is the John Mahfood, the company’s CEO.
In today’s trading 1,000 units traded at $99.50 per 100 units.

Related posts | Jamaican Teas raises over $100m

Filed Under: Company News, General Business News, JSE Main Market, Stock Market Tagged With: ,

JSE: Sagicor X Fund up 10% on IPO price

November 22, 2013 by

Friday, 22nd November 2013 | The Jamaica Stock Market recorded more gains on Friday and recorded two new highs and one new low with Sagicor Real Estate X Fund increasing 10 percent since last week’s listing to close at $5.50. Paramount Trading was the other to hit a new high.

A total of 26 securities traded on Friday amounting to 5,463,219 units valued at $10,046,554 as the prices of 11 stocks increased and 8 declined still positive but a little less so than on Thursday.

The JSE market index gained 297.10 to end at 77,384.08; the all Jamaica index closed at 76,339.89 for a gain of 516.50 and the junior market index closed up to 725.48 with a gain of 6.70 thus continuing the gains from Thursday.

Main Market trades | Cable & Wireless traded 1,808,024 shares to close at firm at 15 cents; Caribbean Cement 27,800 units as it gained 10 cents to close at $2.30; Carreras exchanged 9,518 units as the price moved up 30 cents to close at $36; First Caribbean International Bank delivered 16,553 units to new investors at $90.01, up a cent but the offer closed at $90; Jamaica Broilers Group 671,556 units traded to close at $4.20, down 4 cents; Jamaica Money Market Brokers traded 21,910 units to close down 10 cents at $8; Radio Jamaica 65,392 units at $1.30, down 4 cents; Sagicor Life exchanged 25,850 units at $7.80; Sagicor Real Estate X Fund added 10,989 units while closing at a new high of $5.50, up 30 cents; Scotia Group traded 107,442 shares to close at $17.06 down 44 cents; Seprod surprisingly, gained 50 cents while trading 3,374 units at $12.50.

Jamaica Money Market Brokers 8.75% exchanged 74,677 units at $2.90.

JSEIndicesNov22Junior Market | Start up C2W Music that has earned little income since listing in 2012 hit a new all-time low in trading on the stock market on Friday, as 2 million units changed hands, at 74 cents with the price falling by 19 cents. Caribbean Producers traded 92,000 units to close up 15 cents at $2.10; Consolidated Bakeries traded 215,000 shares to close at $1.35 for a loss of 4 cents; General Accident Insurance exchanged 63,915 units to close at $1.60; Lasco Distributors traded 18,300 units as the price moved up 5 cents to close at $1.50; Lasco Financial Services exchanged 20,200 shares to close at $1.03 up 3 cents; Lasco Manufacturing had 201,700 units changing hands at $1.25, down 15 cents; Paramount traded 900 units at a new high of $3.65, up 5 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator is pointing to a fluid situation between advancing and declining stocks early into next week as there were bids for 6 stocks higher and 6 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

Carreras down but not out

November 22, 2013 by

Carreras, the dominant cigarette distributor in Jamaica. is reporting lower profit from operations for the September quarter as it did for the June quarter as revenues fell from the 2012 levels even as the company had a price increase earlier this year.

Revenues plummeted by 25 percent for the six months period declining from $5.76 million to $4.4 million and by 16 percent in the second quarter from $2.67 billion in September 2012 quarter to just $2.24 billion; this is a big improvement from the 30 percent decline in the first quarter. The reality is that with a price hike of 17 percent in March, a sharp decline in volume is expected. This has always been the case in the past so there are no reason to think that it would be otherwise this time around. The situation is made worse by the stock piling of cigarettes by the trade in anticipation of the price hike.

Profit after tax was identical in both the June and September quarters at $485 million each; the profit for the six months fell 33 percent excluding the pension refund of approximately $2.5 billion net of tax in 2012.  The interesting development is that gross margin improved to more than 100 percent from 90 in the similar period in 2012 and 86.5 for all of the 2013 fiscal year.

Carreras_tobacco150x150The smoking ban which was announced on June 25, immediately impacted the stock price influencing the pull down from $56 to $52.50 on the next day. Although the price recovered to the $55 level shortly thereafter, it slowly drifted to $50 by the end of July, prior to the results being released for the June quarter. The fall in profit seems to have pushed the stock price down to $35 to better equate the value with the lower profit and dividend payment. At the $35 level, it is gaining some support.

The price increase earlier this year had a negative impact on the company’s consumers took a big bite out of sales, far greater than any impact the smoking ban may be having. Sales enjoyed a big jump in the last half of 2012 up to the March this year suggesting that distributors stocked up on the product in anticipation of price increase and stopped stock piling once the price adjustment was implemented.

Expenses rise | While revenues plummeted, expenses have not, with sales & marketing going up by a third to $207 million from $152 million and rising by a smaller 22 percent for the half year to reach $415 million. Administrative expenses, which increased by 15 percent from to $320 million was up 19 percent to $634 million for the six months period.

Tax Recovered | The tax now recoverable that was down to $1.4 billion at June from $1.733 billion at the end of March, is now at $1.17 billion. If the tax authority continues to allow recovery against current liability then the full amount could be recovered before the end of the 2015 fiscal year and most likely be distributed as dividends to shareholders.

Carreras ended up with cash funds of $3.4 billion at the end of September, equity is at $3 billion or $6.30 per share. Current liabilities are at $2.67 billion which includes tax payable of $1.5 billion against current assets of $4.3 billion. There are no borrowed funds incurred to fund operations.

Carreras cut the quarterly dividend from $150 paid last year to $1 in light of the profit decline.

Outlook | Our forecast is for earnings to hit around $5 per share this current fiscal year, and if so, then the stock would be a reasonable buy around $35, the current price level. With a dividend yield of more than 10 percent before tax, the stock will be an attraction for income seeking investors.

Related Posts | Carreras takes a big hit but tax recovery starts | Dividends galore coming

 Image courtesy of Scottchan/FreeDigitalPhotos.net

Filed Under: Company News, Company Results Tagged With: ,

JSE: 15 stocks up only 3 down

November 21, 2013 by

Thursday, 21st November 2015 | At the end of trading on the Jamaica Stock Exchange on Wednesday there were bids for 10 stocks that were higher than their last selling price and only 2 stocks with offers lower than their last selling price, an indication that prices are most likely to reverse the decline seen for a number of days. This is one of the strongest positive indicators for some time.

In today’s trading, the market did just that with 15 stocks recording price gains to only 3 that fell but the measure of overall market performance the index just moved up marginally. At the end of trading things seemed to have cooled a bit as seen by the narrowing of the bid offer numbers in our Market Sentiment Indicator. The JSE Market Index closing at 77,086.98 up 85.92; JSE All Jamaican Composite closed at 75,823.39 up 149.37 and JSE Junior Market Index closed at 718.78 up 13.55. Trading was for 1,517,875 units valued at $12.4 million.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 6 stocks higher and 3 stocks with offers lower than their last selling price, another strong indicator of a possible turnaround in the offing.

Main Market stocks | In main market trading, Berger Paints traded 30,000 and was down 20 cents to $1.80; Caribbean Cement stock price gained 20 cents to close at $2.20 with 33,823 changing hands; Carreras gained 63 cents to $35.70 as 26,772 units traded; Gleaner had 400,000 units changing hands unchanged at $1.11; Grace Kennedy traded 97,241 units to close at $56, down 51 cents; Hardware & Lumber exchanged 20,600 as the price fell 36 cents to $4.20; Jamaica Broilers Group saw 14,500 of its shares changing hands to close at $4.24, up by 5 cents; Jamaica Money Market Brokers traded 236,931 units to close at  $8.10 $7.86 up by 24 cents; National Commercial Bank had another day of low trading with only 7,655 units as the price closed at $17.80, up 30 cents; Scotia Group exchanged 34,520 units to close at $17.50, up 50 cents and Scotia Investments had 11,000 shares trading at $27.99 for a gain of $1.98.

JSEIndicesNov21Proven Investments traded 101,250 to close firm at 12 US cents.

Junior Market | Trading picked up in the junior market with 9 companies involved in trading with Access Financial Services trading 23,000 shares to close up $1.22 at $9.50, a 52 weeks high; Caribbean Producers exchanged 163,909 units at $1.94 regaining the cent it lost in Wednesday’s trading; Caribbean Flavours & Fragrances had just 11,936 units trading firm at $2.60 and Lasco Manufacturing traded 275,998 units and closed up 15 cents to $1.40.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

Will Tessanne boost RJR fortunes?

November 19, 2013 by

Important RJR update | RJR earnings per share for the six months improved to 4 cents compared with a loss of 6 cents in 2012. IC Insider has revised its forecast of earnings and is now forecasting 20 cents per share for the full year ending March 2013 and around 30 cents for 2014, which suggest that the price of the stock has room for growth from the current level of $1.34. It is quite possible that the group could be a big beneficiary of the popularity of Tessanne Chin’s success on the NBC The Voice with RE TV’s broadcast of the program, especially if Chin goes much further in the competition.

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RJR recently released results for the six months to September, but they have the exclusive rights to the telecast of the NBC The Voice program that features Tessanne Chin and is being telecast locally on RETV. Could she give the stalled bottom line a real kick in the butt? The next quarterly figures will shed some light on that.

The economic environment has not been kind for many in the communication sector. We have Cable & Wireless losing market share from high legacy cost, complacency and poor customer service plunging the operations in to huge losses stretching back for a number of years, then there is the staid and age-old Gleaner Company whose main business has not seen a profit for some time as both the state of the local and global economies has conspired against it, pushing up cost without a commensurate level of income.

Then there is  RJR who raised capital to invest in a newspaper only to write-off all of it, plus their own old-fashioned management practises in some areas that has seen the once prominent and dominant AM radio loose its dominant market share. They are now fighting amongst the rest try to recoup market share from the new leader, Irie Radio.

RJR_Newslogo150x150Interestingly, all three of these companies were once very dominant in their respective markets but not so any longer. What went wrong and where will they be heading?

The un-audited results showed that RJR recording a profit in the 2nd quarter ended September, 2013 of $13 million and marginally more for the six month a profit of $14.6 million, which is a major turnaround from a loss of $23 million in the 2012 six month period and a small profit of $2.3 million in the 2012 September quarter.

Revenues | Operating revenues were down $21 million for the September quarter to $458 million but was flat for the six months at $899 million. Other Income showed a 63 percent increase for the six months to $52 million and 19 percent increase for the quarter to reach $17.5 million, resulting management said, “from new transmitter site rental income.”

The 2nd quarter performance was driven by a $29 million or 5.9 percent reduction in expenses for the comparative period in 2012 moving from $489 million down to $460 million.

Direct expenses fell $14 million to $212 million for the quarter and but was up $30 million for the six months; selling expenses were marginally down $2.6 million for the quarter and $9 million for the six months while administration expenses fell by $18 million to $84 million and by $21 million for the six month period to reach $183 million. Finance costs rose from $3 million in the six months to $11 million.

Earnings per share | RJR earnings per share for the six months improved to 4 cents compared to a loss of 6 cents in 2012, IC Insider is forecasting 13 cents for the full year ending March 2013 and around 20 cents for 2014, which suggests that the current price of the stock is fully valued at $1.30. It is quite possible that the Group could be a big beneficiary of the popularity of Tessanne Chin’s success on the NBC The Voice and could be a big boost for RETV. Management has also mentioned a new  project that should be on stream before the end of the fiscal year but no details have been given.

At the end of September, there was $84 million invested in FIFA rights to broadcast and televise World Cup matches in Jamaica; $446 million of receivables or nearly one quarter’s revenues; cash funds of $230 million and payables of $223 million. Shareholders’ equity stood at $1.2 billion and long term loans increased by $226 million.

Related posts | Radio Jamaica’s sharp turn |C&W: Less jobs, more capital spend | Gleaner profits face major challenges

Photo courtesy www.nbc.com/the-voice/

Filed Under: Company News, Company Results Tagged With: ,

JSE: Scotia dominates Tues 19th

November 19, 2013 by

Tuesday, 19th November 2015 | Scotia Group was by far the dominant stock to traded days ahead of 2013 final results as 5,598,433 units traded as the price closed down 39 cents at $17.11. It also accounted for the bulk of the value of trading with $97,970,828 out of a total of $113.15 million.

Trading activity on the Jamaica Stock Exchange resulted in 7 stocks advancing to 6 that declined as the indices mostly rose with JSE Market Index closing at 77,428.29 up 241.79, JSE All Jamaican Composite closed at 76,416.74 up 420.34 and JSE Junior Market Index closed at 719.97 down 5.11.

Main Market stocks | Cable & Wireless traded 213,611 units unchanged to close at 15 cents; Desnoes & Geddes put through 504,974 shares to close firm at $4.80; First Caribbean International Bank had 2,404 units trading at $90.01; Grace Kennedy 66,104 at $56.51; Jamaica Broilers traded only 7,623 shares and it closed unchanged at $4.19; Jamaica Money Market Brokers  lost 5 cents as it traded 479,609 units to close at $7.85; Mayberry Investments had 20,000 units changing hands at $1.91, unchanged at the end of trading; National Commercial Bank had only 15,540 units as the price closed at $17.80 the same as the day before; Sagicor Life put in 111,256 units and closed at $7.75, for a gain of 5 cents; Sagicor Real Estate X Fund traded 23,628 units to close at a new high of $5.20 as the price put on 5 cents.

In the preference shares segment Jamaica Money Market Brokers 8.50% traded 102,200 units at $3.50.

JSEIndicesNov19Junior Market | Caribbean Producers 100,001 at $1.95; Consolidated Bakeries 9,000 at $1.20; Dolphin Cove 19,406 units helped in pushing to price 50 cents to $7.50; General Accident Insurance swapped 10,000 units at $1.60; Lasco Distributors had a good day with 555,966 units trading to close at $1.45. Lasco Financial Services traded well with 1,979,075 units to close at $1, up 3 cents and Lasco Manufacturing traded 55,253 units and closed down 2 cent to $1.38.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 6 stocks higher and 4 stocks with offers lower than their last selling price.

Image courtesy of Photokanok/FreeDigitalPhotos.net.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

JSE: Low trading

November 18, 2013 by

Monday, 18th November 2013 | It was another slow trading day and low volumes on the Jamaica Stock Exchange. Scotia Group stood out while trading 2,294,482 shares valued at $40,156,819 with the final price ending at $17.50. No other stock came close to the volume or value of the Scotia trades. A total of 3,253,336 shares changed hands valued at $45,405,974 as the indices fell once more; the main market closing down 480.87 to 77,186.50; the all Jamaica index 75,996.40 down 835.97 and the junior market index down less than a percent to 712.08.

Overall 23 stocks traded with 8 declining and the price of 5 increasing.

Caribbean Cement traded 5,300 units to close down 35 cents at $2.35; Jamaica Broilers had 257,686 units as the price closed at $4.19 down 31 cents; Jamaica Money Market Brokers traded 53,600 shares to close at $7.90, up by 4 cents; Jamaica Producers 10,513 units were all traded at $18.25, unchanged from Friday’s close; National Commercial Bank struggled to trade 78,312 units as the price closed at $17.80, down 20 cents, but it traded as low as $16.75; Sagicor Life 57,000 units to close at $7.70; Supreme Ventures had 223,154 units trading at $2.59.

JSEIndicesNov18Jamaica Money Market Brokers 7.50% preference share traded 95,000 units firm at $2.

Eight stocks traded in the junior market but only three had any volume to write home about as Caribbean Producers Jamaica traded 20,477 at $1.92; Lasco Distributors 63,572 shares to close at $1.45 and Lasco Manufacturing 53,576 to close at $1.40.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 6 stocks higher and 5 stocks with offers lower than their last selling price.

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

Profit blast at LASCO Distributors

November 18, 2013 by

Lasco Distributors (LasD) posted profit of $139 million for the quarter to September this year compared to $54 million or an increase of 159 percent over the same period in 2012.

In the six months to September, profit of $303 million was up a strong 60 percent over September 2012, when $189 million was reported. The results flowed from revenues of $4.63 billion, an increase of 13 percent over the $4.1 billion generated in 2012. The quarterly revenue grew by 10 percent to $2.3 billion. The growth is likely to pick up as Lasco Manufacturing, its sister company, starts the role out of new products in November, which will be distributed by LasD.

Gross profit was $457 million compared to $362 million and gross profit margin was 24.5 percent, an improvement over the 20.7 percent in the similar quarter last year. For the six month’s period, gross profit margin was 24.8 percent compared to 23 percent in 2012. “There was an overall improvement in the company’s performance and recovery from the one off adjustment to cost of sales which occurred in the comparative period of 2012.” Management stated in their recent report to shareholders.

Lasco_FoodManufactoring150x150“The revenue and profit performance was due to increased volumes, aggressive marketing and trade activities and improvements in efficiencies” management further stated.

Operating cost rose just 5.2 percent for the half year, even less for the quarter at 3.4 percent, and was one reason for the jump in profit.

Outlook | IC Insider is forecasting earnings of 22 cents per share for the current year ending in March and 35 cents for the following year to March 2015. This puts the current PE around 7 times and just over 4 times for 2015. The forecast takes into consideration increased revenues as a result of new products to flow from the manufacturing company. Around 60 percent of the listed companies are valued lower than Lasco Distributors and only 4 junior market companies are valued higher, with 3 of them valued between 8 and 9.5 times this year’s earnings. As such the stock is one for accumulation than for rapid acquisition at this stage.

Asset size | Total assets grew by 29 percent to $3.29 billion in September compared to $2.55 billion in September 2012. The contributory factors were cash funds and investments which increased from $435 million in September 2012 to $1,029 million, Trade and Other Receivables increased from $1.23 billion in the prior year to $1.4 billion in September.

Trade and other payables increased from the prior year by $161 million to $1.49 billion this September. Shareholders’ equity amounted to $2.29 billion and borrowed funds amounted to only $15 million.

Lasco Distributors (LasD) is an IC Insider Buy Rated Stock.

Related posts | Lasco Distributors, more room to profit | Carib Cement & AMG now Buy Rated

Filed Under: Company News, Company Results Tagged With: ,