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For the year ended September 2019, Eppley Caribbean Property Fund reported an unaudited net profit of BBD$4.05Mn (EPS: $0.06), a full recovery from the BBD$739.33K loss (EPS: $-0.01) reported one year prior.
The performance was attributable to total investment income which increased from BBD$612.54K in 2018 to BBD$7.16Mn in 2019. This was supported by a fair value gain of BBD$2.15Mn which is a reversal from the BBD$2.38Mn loss reported in the previous year. Furthermore, rental income increased 18.4% (or BBD$279.42Mn) to BBD$1.84Mn, year-on-year, while the share of profit from investments in joint ventures increased by 88.6% (or BBD$1.38Mn) to BBD$2.95Mn, year-on-year.
The stock has declined by 20.7% since listing on the JSE, closing yesterday’s trading session at $36.62 per share. At this price, the stock currently trades at a discount of 33% to its September 30, 2019 book value per share.

(Source: Eppley Financials)

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For the nine-month period ended July 31, 2019, The Limners and Bards (The LAB) Limited reported an increase in net profit of 17.3% to finish the period at $69.81Mn up from $59.51Mn for the corresponding period in 2018.
Operating revenues increased by 24.3% (or $94.99Mn) which was the main contributor to the increased net profit. The growth in operating revenues can be attributed to increases in the company’s core business, production (up to $69.60Mn or 113.0%) and media (up to $30.20Mn or 15%).
The stock has risen 202.0% since listing and closed yesterday’s trading session at $3.02. At this price the stock currently trades at a P/E of 33.33x which is above the Junior Market average of 29.30x.

(Source: LAB Financials)

European Central Bank Executive Board member Sabine Lautenschlaeger became the latest policymaker to add her voice to those saying the time is not right to restart the bank’s quantitative-easing program.
Yesterday Dutch Governor Klaas Knot said the outlook isn’t weak enough to resume buying bonds while Bundesbank President Jens Weidmann has recently returned to type following his failure to be selected as next ECB head.
The hawkish rhetoric ahead of the bank’s Sept. 12 meeting could be viewed as somewhat at odds with the data as today’s inflation figures showed price growth in the euro-area remains stuck at 1%, well below the ECB’s own target.

(Source: Bloomberg)