World Finance names NCBCM Best Investment Management Company Caribbean 2014

The internationally acclaimed World Finance magazine has named NCBCM Best Investment Management Company for the second year running.

Published every two months by World News Media and based in the United Kingdom, the magazine explores matters relating to finance and the economy within an international context. Each year, it awards best-in-class large companies in the Americas, Asia and Australia; Europe; the Middle East and Africa.

This award speaks to our commitment to creating value for our stakeholders and aligns well with our regional expansion strategy.

Proven Investment Ltd - Declared Dividend

Proven advised that at a meeting held on August 11, 2014 a US$0.0032 per share was declared to all ordinary shareholders on record August 27, 2014 with a payment date of September 10, 2014. X date August 25, 2014. Also a dividend payment of J$0.10 was declared for Preference Shareholders with a record date of September 9, 2014 and payment date of September 23, 2014. X date September 5, 2014.

Jamaica Teas Limited

JAMT experienced strong growth in revenues in the third quarter driven by a 47% increase in domestic sales from its manufacturing operations. The improvement in sales resulted from a combination of increased market share and launch of new product.

Q3 Rescues Honey Bun’s Financial Performance

While earnings for the nine month period were virtually flat, Honey Bun delivered a strong outturn in the third quarter (Q3).  In Q3, sales increased by 14% while profits increased for that period by 406% over the prior year period to $11.8Mn. This was mainly as a result of significant improvement in the management of inventory and greater efficiencies in production.

Earnings Decline Sharply-Consolidated Bakeries (Purity)

For the six month period ended June, Consolidated Bakeries experienced a 39.8% decline in earnings to $14.6Mn (EPS:$0.07). The falloff in net profit reflected higher operating expenses which were up by   15.2%, on account of costs relating to engineering, branding and reorganization. On the revenue side, the company registered an increase in sales of 17.9% over the corresponding six month period in 2013, representing growth in all product categories.

The Planning Institute of Jamaica has indicated that in the April - June 2014 quarter, real GDP grew by an estimated 1.2% relative to the corresponding period of 2013. The Goods Producing Industry increased by 3.6% and the Services Industry recorded growth of 0.5%. Within the Goods-Producing Industry, increases in Agriculture, Forestry & Fishing (up 12.5%) and Construction (up 1.0%) outweighed declines of 0.6% and 0.3% recorded by Mining & Quarrying and Manufacture, respectively. All subcategories of the Services Industry recorded growth except for Producers of Government Services (down 0.2%) and Electricity & Water Supply (down 1.6%). The industries registering the largest increases were Hotels & Restaurants (up 2.7%); Transport, Storage & Communication (up 1.3%); and Other Services (up 1.0%).

For January – June 2014, real GDP was estimated to increase by 1.4%

The Board of Directors of Pan-Jamaican Investment Trust Limited will consider the payment of a third interim dividend for the year 2014 at a meeting to be held on August 12, 2014.

The Board of Directors of LASCO Financial Services Limited has declared an interim dividend of $0.03 per share payable on September 2, 2014 to shareholders on record as at August 21, 2014. The ex-dividend date is August 19, 2014.

National Commercial Bank Jamaica Limited (NCBJ) has advised that the decision has been taken that Mrs. Nadienne Neita, Assistant General Manager - Corporate Banking Division, will demit office effective August 15, 2014. NCBJ advised that this decision had been taken in the context of the on-going review of the organisational structure at all levels.

The Annual General Meeting of Medical Disposables & Supplies Limited will be held on Tuesday, September 30, 2014 at 10:00 a.m. at the Courtleigh Hotel & Suite, 85, Knutsford Boulevard, Kingston 5.