GraceKennedy Profits up for 2018
- GraceKennedy Limited reported a modest improvement in profit for the year ended December 31, 2018. The company reported an audited net profit of $5.6Bn (EPS: $5.05) relative to the $4.8Bn (EPS: $4.15) recorded for 2017 which represents an increase of 18.3%.
- The improvement in net profit was partly attributable to a 5.5% increase in revenues to $97.6Bn as well as a $1.4Bn (+66%) increase in other income.
- GK’s stock has fallen 5.69% since the start of the calendar year. The stock closed at $59.89 yesterday and currently trades at a P/E of 11.9x earnings which is below the Main Market Distribution sector average of 17.6x.
(Source: GK Financials)