Profit jumps 18% for Grace

July 30, 2026 by
GraceKennedy delivered an 18 percent jump in after tax profit of $2.4 billion for the June 2026 quarter, from a 6.26 percent increase in revenues of $45.6 billion. For the half year, profits rose 11.76 percent to $4.75 billion from a 4.6 percent rise in revenues to $93 billion.

Grace delivered Interest and Other income along with its share of results of associates and joint ventures amounting to $2.17 billion, up 21 percent over the $1.79 billion in the second quarter in 2025. For the six months to June, the Group delivered an increase of 6.6 percent to $3.8 billion from $3.567 billion in 2025.

The Group took a $1.4 billion hit in other comprehensive income for the quarter and $1.7 billion for the half-year. These resulted mainly from re-measurement of post-employment benefit obligations and foreign exchange loss adjustments.
Earnings per share came in at $2.41 for the quarter and $4.78 for the half year, putting it on track for $10 for the year. Net asset value per share amounts to $95.86 at the end of June. The stock closed trading on Wednesday at $74 with a PE of 7.4 times 2026 earnings and a good long term buy. The group declared a dividend of 70 cents per share, payable in September.

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Profit triples at Berger Paints

May 16, 2026 by
Berger Paints, Jamaica’s major paint manufacturer concluded their 2026 annual general meeting this past Friday, with a new chairman at the helm. Management informed shareholders of the demolition of fourth quarter profits due to the damage caused by Hurricane Melissa. According the General Manager Dwaine Williams the company was on target to deliver one of the best results with the hurricane snatching it away.

Berger Paints directors at the recently held AGM right to left are the chairman Ian Mitchell, Dwaine Williams General Manager, former chairman, Christian Llanos, Chamika Cuffy, Financial Controller, Michael Fennel , OJ, Nicholas Maclean. In attendance but not at the head table are Milton Samuda and Jacqueline Sharp.

He went on to point out that the improved 2025 first quarter results, suggesting that the new-year is on track for a surge in profits. According to Williams, the first quarter has some demand as a result of the rebuilding out west, but suggests that increased demand is expected as the rebuilding matures. The rebuilding is seeing demand for steel, cement and other construction materials, but after that, paints will be demanded he stated.

The directors in reporting on the first quarter performance stated,” demand strengthened progressively through the quarter as rebuilding activity accelerated. The Company met that demand with high service levels and dependable supply.”
The new year has started well for the company with a 180 percent jump in the March quarter, at Berger Paints to $31 million, from just $11 million after corporate taxes in first quarter 2025. Profit before tax came in at $38 million, up 123 percent from $17 million in the prior year. The profit was partially fueled by a sharp jump in other income to $24 million, from a gain of just $7 million, in 2025, partially reflecting a $20 million swing from a foreign exchange loss of $13 million in 2025 to a gain of $7 million in the current period. Taxation rose 19 percent to $7 million form $6 million in 2025.
The 2026 outcome on the surface appears impressive, but falls well short of the profit of $48 million in 2024. For the first quarter this year, revenues climbed 16 percent to $890 million, from $769 million in first quarter of 2025, just slightly less than the solid 20 percent growth in the third quarter last year over the 2024 gross inflows.

Shareholders in attendance at Berger Paints 2026 Annual General Meeting held on Friday, May 15 at the Courtyard- Marriott Hotel

At the nine-month stage in 2025, net profit amounted to $18 million on revenues of $2.4 billion, compared to $9 million on revenues of $2.3 billion in the same period of 2024. Hurricane Melissa struck Jamaica at the end of October last year, the start of peak painting season, which traditionally accounts for around 90 percent of Berger’s annual profits, suggesting profit in the region of $200 million for the full year, but for the devastating effect on the fourth quarter performance.

Raw materials cost climbed 11 percent to $423 million for the quarter from: $381 million in 2025. Gross margin before manufacturing costs, climbed to 54 percent from 50 percent, in the 2025 first quarter and reflects gains from ongoing capita investments. in this regard the company stated that they plan to spend $100 million in the current year on capital expenediture.. Manufacturing expenses increased by 31 percent to $17 million from $13 million in 2025. Employee expense rose 11 percent to $185 million from $166 million in 2025. Other operating expenses rose 31 percent to $226 million from $172 million in the prior year. Depreciation amounted to $26 million, up 7 percent from $24 million.

First quarter2026 earnings per share came in at 14 cents, up from 5 cents in 2025 first quarter. IC Insider.com projects the full year’s earnings at $1.35 on the assumption there will no major disruption to business during the year. The stock closed at $5.35 on May 15, 2026, with a P/E ratio of just 4, based on the current years projected earnings and 214.3 million shares outstanding. Net asset value per share is $5.13, just below the last traded stock price.

The operations generated was $63 million in Cash flow during the quarter with movements in working capital resulting in a net outflow of $69 million and ending with cash on hand amounting to $200 million and reflecting an improvement over $165 million at the end of March 2025.
Inventories grew 29 percent to $920 million, but was lower than the position at the end of the 2025 at $1.23 billion. Receivables declined 17 percent to $741 million from $891 million at the end of March 2025. Current liabilities ended the period at $1.25 billion slightly up on the $1.19 billion at the end of March 2025.
Shareholders’ equity stood at $1.10 billion up from $1.18 billion year ago.

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Profits surged 53% at Carib Cement

April 30, 2026 by
Profits surged 52.8 percent at Jamaica’s sole manufacturer of cement, Caribbean Cement Company, resulting from 13 percent rise in revenues of $9.3 billion, compared with $8.2 billion in the first quarter of 2025.

“This strong performance was driven primarily by higher sales volumes, reflecting sustained demand in the domestic market associated with ongoing recovery activities following Hurricane Melissa,” management stated.

The improved profit position was helped by a significant gross profit margin improvement of 51 percent, compared with 46% in the corresponding period of 2025. “This improvement was driven by operational efficiencies achieved at the production facility, and management’s continued focus on cost discipline. Following the successful completion of the expansion project in 2025, improved margins, cost stability, and reduced unit production costs compared to last year,” managed stated.

Operating expenses, including administrative, selling and distribution expenses, amounted to $865 million, an increase of 5 percent from $825 million in the prior year.

Earnings per share for the quarter were $3.58, an increase of $1.24 compared to the same period in 2025, and suggest full year earnings of around $14. With the stock price trading at $101.50 on Wednesday, the PE is 7.3, well below the market average.

Net cash flows generated from operating activities ended at $4.2 billion, reflecting an improvement of $1.9 billion over the 2025 first quarter and resulted in cash and cash equivalents of $15.7 billion.  

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Profits climb at NCB Group

November 14, 2025 by
Jamaica’s largest financial conglomerate, NCB Financial Group, reported profits for the fiscal year to September of $23 billion, attributable to shareholders of the Group or $9.59 per share, with profit of $4.2 billion or $1.73 per share for the September quarter compared with a loss of $330 million in 2024.

The group benefited from a $15 billion one-time gain on the sale of a subsidiary; excluding this, earnings would have been just $13 billion for the year, compared to $13.3 billion generated in 2024 and earnings per share from continuing operations would be $7.60, up from $5.62 in 2024.
The group declared a dividend of 50 cents per share, which will be paid in December and will bring the full year to $2.per share.

The stock is severely undervalued, with a PE ratio of only 5.2 times 2025 earnings and even less based on 2026 earnings, which ICInsider.com projects to rise. The stock, which now trades around $40 each, trades well below the net asset value of $77. Holding back the group is the stagnation in lending, with loans falling to $618 billion from $626 billion in 2024.
NCB is accorded the ICInsider.com BUY RATED award.

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Scotia profit surges 35%

March 6, 2025 by
Profits jumped a solid 34.5 percent at Scotia Group with $4.2 billion in net profit for the quarter that ended January, this year, for an increase of $1.1 billion over the $3.21 billion in 2024, with earnings per share rising to $1.35 from $1 in 2024.

Total revenues excluding expected credit losses for the year ended January 31, 2025, grew by $2.2 billion to $17 billion, for an increase of 14.9 percent over the prior year period, primarily driven by growth in loans leading to an increase in net interest income of $1.1 billion or 10 percent as well as an increase in other revenue of 26.2 percent.
Other income, other than interest income, increased by $1.2 billion or 26.2 percent. Net fee and commission income for the period amounted to $2.2 billion. an increase of $672 million or 42.9 percent, primarily driven by the higher volume of client transactions and activities.
Total loans increased from $275.7 billion to $313 billion, an increase of 13.3 percent over the $276 billion in January 2024 but flat with October last year. Growth over January 2024 “includes a 12 percent increase in Scotia Plan personal loans and a 24 percent increase in mortgage loans. Commercial loans also increased by 5 percent over the prior year period,” the release from Scotiabank stated
The Board of Directors approved a dividend of 45 cents per share for the first quarter, payable on April 17, to stockholders on record at March 26.

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Profit rises 14% at GraceKennedy

November 9, 2023 by

Revenues at GraceKennedy rose 9.7 percent to $117.8 billion, over $10.4 billion earned for the nine months to September over the same period in 2022. Profit before tax reached $8.8 billion, up by J$1.1 billion, or a 14 percent increase, while net profit after tax rose 14.2 percent to $6.4 billion.
Profit attributable to stockholders hit $6 billion, a 15.3 percent increase over the corresponding period last year. Earnings per stock unit for the period were $6.02, compared to $5.23 in 2022.
Earnings per share for the full year ending in December should hit the $8 market, with PE ratio of 9 based on Thursday last traded price of $71.50.
The company stated that “GK’s food business demonstrated strong performance, with notable growth in revenue and profitability for the period. GraceKennedy Financial Group also delivered a positive performance, driven by strong top-line growth”.
A dividend of $0.65 per stock unit has been announced and will be payable on December 15, 2023, totalling approximately $643 million. This is the fourth and final dividend payment by GK for 2023, bringing GK’s year-to-date total dividend pay-out to approximately J$2.15 billion.

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Rich year for Carreras’ shareholders

November 15, 2014 by

Carreras_tobacco280x150Carreras declared yet another dividend payable to shareholder in December, with the latest being $1 per stock unit to be paid out of proceeds received from the liquidation of a subsidiary. The payment is pending the granting of a transfer tax exemption pursuant to the Transfer Tax Act.
The interim special capital cash distribution will be paid on December 18, to stockholders on record as at December 1, 2014. The ex-dividend date is November 27. The distribution follows the interim dividend of $1.20 per stock unit due for payment on December 11, 2014, to stockholders on record at November 20. The payment will bring to total for 2014 to $8.09 for a return of 22 percent for the year based on the stock price of $36.75 at the end of 2013. The stock closed at $37 on Friday on the Jamaica Stock Exchange.
In September, Carreras paid an interim dividend of $1.20 per stock unit, the company also paid an interim dividend of $1.75 per stock unit on June 26. On March 13 they paid $1.62 per share.
A special capital cash distribution of $1.34 per stock unit was paid on July 31 and a special capital cash distribution of $1.18 was last paid on January 30, this year.
Profit up|Carreras just announced results for the six months to September, with an 18.5 percent increase in revenues for the quarter, over that of 2013 and 19.3 percent for the six months, to September.
Profit after tax, rose 28 percent in the quarter, to reach $614 million, up from $485 million in 2013, and for the six months, growth was less robust, at 12 percent, to reach $1.22 billion from $970 million.
Profit margins got squeezed, rising only 13 percent for the six months and 9 percent in the quarter, no doubt due to the devaluation of the local dollar and the lack of a price increase so far. Revenues are recovering from the 2013 price increase, and from the front loading by merchant of inventories ahead of the increase. The company is on track to earn somewhere in the region of $6 per share for the current year, that will help move the price up. The stock remains IC Insider BUY RATED.

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Q3 profit up 20% at Hardware & Lumber

November 13, 2014 by

HardwareLumber280x150Hardware & Lumber recovered somewhat from the poor results in the second quarter, with sales revenue of $1.72 billion for both quarters, with the latest quarter just slightly higher than the same period last year, with sales of $1.71 billion.
Hardware and Lumber reported a 20 percent increase in profit for the September quarter to $44 million or $0.54 per stock unit, compared to last year’s $37 million or $0.46 per stock unit. The latest result is in contrast to a 34 percent fall in profit for the June quarter, year over year. Profit after tax for the nine months was $113 million, or 26 percent more than the $90 million, for the same period in 2013. Earnings per stock unit for the nine to September months is $1.40, up from $1.11 for the comparative period in 2013.
Gross profit for the nine-month period, fell to $1.22 billion compared to $1.3 billion for the comparative period last year, but for the latest quarter, it ended at $422 million, just slightly lower than the $435 million in 2013. Gross margin fell to 32.5 percent from 34.17 percent, in 2013, for the quarter and for the 9 months period 30.4 percent and 35.1 percent in 2013. Total revenues for the nine months is $5.25 billion, an increase of 5 percent ahead of $5 billion achieved in the same period last year.
Operating cost for the quarter was down to $370 million from $380 million in 2013 and for the nine months, cost fell to $1.123 million from $1.17million in 2013.
Looking ahead, the company increased inventories to $1.6 billion, from $1.1 billion in 2013 and reduced cash to $257 million from $388 million while borrowings fell from $494 million in September 2013 to $320 million, helping to reduce finance cost from $36 million down to $23 million for the nine months. For the latest quarter finance cost was slashed from $12 million down to $7 million.
The company results recovered from the poor June quarter and puts them on track to post $4.35 per share for the full year, with the December quarter being their biggest, for revenues and profits.
The stock remains Buy Rated with the price at $6.50 with much upside gains ahead.

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Purity’s 2014 profit & stock price falls

October 11, 2014 by

Con sol logo Periods of major economic adjustment negatively affecting consumers, can be tough for bakeries, as demand pressures tend to squeeze margins. That is exactly what happened to Consolidated Bakeries, better known as Purity, for the first six months of 2014.
For although sales’ revenues for the period to June 2014, grew 17.9 percent over the six months to June 2013, profit fell 19 percent to $14.7 million from $24.4 million in 2013. Profit, in the June quarter fell 28 percent to $7.3 million while sales’ revenues for the quarter rose 22 percent. During the six-months, Consolidated said, exports grew 25 percent in US dollars, over the same period last year.
According to management in their report to shareholders for the June results “revenue growth over the six month period in 2013, represent growth in all product categories. This growth is a result of our strategy to grow distribution and volume. During this period, price increases were low due to market competition and in a response to difficulties shoppers face.”
Gross profit| Gross profit margin that ended last fiscal year at 54 percent, fell to 44 percent in the March quarter, 47 percent for the June quarter and for the six months 46 percent. The decline was a major factor dragging profit down for 2014. For 2011, gross profit ended at 62 percent, leaving much room for improvement for management going forward.
Operating cost| comprising administrative, selling and distribution cost, rose sharply by 21 percent for the June quarter to $57 million and 15 percent for the six months, hitting $113 million, faster than the increase in gross profit.
The company has lots of work to do, to improve gross profit margin as well as the paltry return on equity of 6 percent for 2014.
Borrowed funds amount to $57 million at the end of June at a very comfortable level with equity at $518 million. Cash funds available amount to $111 million.
Property plant and equipment was increased by $17 million up to June 2014, additional machinery was ordered to build capacity.
Watch this one| The company has room to grow faster than the economy for a while, this can make it a good growth prospects for investors looking long term. IC Insider’s forecast for earnings per share is around 15 cents for 2014. It may not be until 2015 that the earnings could show improvement to help push the stock price upwards in a major way.

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