CPJ Three months ending September 30, 2017
Caribbean Producers Jamaica Limited (CPJ) in United States dollars (except where it is indicated otherwise):
Revenues grew 15% year on year, to close the period at $24.30 million compared to the $21.05 million for the same period last year. According to the company “the increase was primarily driven by the growth in sales of our offshore subsidiary and targeted product categories in the local market.”
Cost of goods sold showed an 14% increase, closing the period at $17.76 million relative to $15.56 million for the same period last year.
Gross profits for the period increased by 19% and closed out the period at $6.55 million relative to $5.49 million in 2016.
Selling and distribution expenses were $5.02 million a 7% increase on the $4.67 million posted last year. According to the company “this was mainly due to the administrative costs relating to upgrade and strengthening of the IT infrastructure.”
Depreciation for the period declined by 8% closing the period at $607,235 (2016: $659.759) CPJ highlighted that this increase was “relating to the capital and operating assets of the company.
Other operating income totaled $13,407 this compares with the operating expenses of $14,671 booked a year ago.
Profit before finance costs, income and taxation increased 546% to total $936,112 relative to $145,018 in 2016.
Finance costs amounted to $427,876 (2016: $461,200), a 7% decline. As such profit before taxation was $508,346 compared to a loss of $315,650 in 2016.
Profit attributable to shareholders for the period amounted to $408,491 this compares with the net loss attributable to shareholders of $277,765 booked last year.
As a result, profit per share for the period amounted to US0.037 cents compared to LPS of US0.025 cents, while the twelve-month trailing EPS totaled US0.29 cents. The stock price as at November 14, 2017 was JMD$3.85. The number of shares used in our calculations amounted to 1,100,000,000 units.
Balance Sheet Highlights:
As at September 30, 2017, total assets amounted to $58.91 million, 7% more than its value a year ago (2016: $54.82 million).
Shareholder’s Equity as at September 30, 2017, totaled at $22.32 million (2016: $18.95 million) resulting in a book value per share of approximately US2.029 cents (2016: US1.723 cents).
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