From left GHL executive director, Terrence Farrell, GHL CEO H Ganteaume and Guardian Life Jamaica president, Earl Moore. TRINIDADIAN POWERHOUSE Guardian Holdings Limited (GHL) is to list 125,625,000 ordinary shares on the Jamaica Stock Exchange (JSE) from September 20.
Guardian Holdings Limited (GHL), which is incorporated in Trinidad and Tobago is a holding company whose subsidiaries and joint ventures are engaged in the underwriting of all classes of long term insurance business, associated investment activities and real estate development.
The Group is the second Trinidadian company, after Carib Cement, to list on the JSE and continues the present trend of companies from Trinidad and Tobago establishing a foothole in corporate Jamaica.
The Group's associated companies, include,N.E.M.(West Indies) Insurance, Neal & Massey Holdings, Royal Bank of Trinidad and Tobago (RBTT) Financial Holdings, Bancassurance Caribbean, Tobago Plantations, RGM, Guardian Life of the Caribbean, Guardian Properties and Guardian Life.
The more recent thrust of the Group has been focused on widening its core operations in the Caribbean. Last year the company acquired the individual life and pension portfolios of Jamaica Mutual Life Assurance Society, Dyoll Life and Crown Eagle in a $1.1 billion deal.
For the first half of 2000, Group profit after tax was TT$55.6 million compared to TT$36.6 million in the corresponding period last year, an increase of 52 per cent. The increase in group profits is attributable in part to the recording for the first time, of the profits of Tobago Plantations in which Guardian Group has a 50 per cent stake. Profits also came from Guardian Life (Jamaica). The investment in Guardian Life (Jamaica) is also reflected in Guardian Holdings balance sheet.
Unaudited accounts for the period to June 2000, shows company revenue came in at TT$400,913 million compared with TT$237,533 for the same period last year with operating profit posted at TT$47,054 million, a substantial increase on last year's TT$23,566 million. Net profit stood at TT$55,554 up again on last year's TT$36,556 for the same period. Total assets were registered at TT$4,159 billion, a huge jump on last year's TT$2,432 billion figure.
Guardian Holdings Group executive director Terrence Farrell speaking at a press conference held at Guardian Life's corporate office in Kingston, said: "The shares listed on the JSE are existing shares already issued and outstanding.
We will now be looking to list on the Barbados Stock Exchange."
