BERGER PAINTS Jamaica Limited is the largest manufacturer and distributor of paints in the English-speaking Caribbean and is on track to overtaking last year's record-breaking performance, achieving sales of over $1 billion up to December 12.
"This is the first time the company has made and surpassed the $1 billion mark in its 50-year history," said Warren McDonald, managing director and CEO of the company.
Mr. McDonald made this disclosure when he addressed Berger employees at the company's long service awards and Christmas party at the Hilton Hotel, New Kingston, on December 12.
"Volume sales and profits for the 11-month period were higher than last year's which were, until that time, also the best performance figures for the company," Mr. McDonald said.
In 2002 Berger had a turnover of $910.5 million and net profits of $88.6 million.
Mr. McDonald referred to the challenging environment in which Berger, like other companies in the productive sector continued to operate. Manufacturing and construction, the two main sectors which affected the company's business, remained virtually flat for the first nine months of 2003, and production was also affected by the grave and serious problem of violent crime.
"When we at Berger, look at all of this, we can be forgiven if we take some satisfaction in being able to maintain our forward progress in all the critical performance indicators. I am very happy that we can say that we are also able to celebrate our company's strong performance for yet another year," Mr. McDonald said.
Berger was listed on the Jamaica Stock Exchange in 1992 and has maintained an unbroken record of consistent growth and profitability. Sixty per cent of its employees have been with the company for over 10 years.
