Broilers hangs on to fish division - Predicts turnaround in loss-maker
Jamaica Broilers Group expects a turnaround this year from its unprofitable fish segment, which has operated at a loss for most of the division's 25 years in business. "We anticipate to be in profit situation with agriculture - it's going to be a relatively small level of profit...
Big-spending refinery nets small profit - $1.13b more for Petrojam plant upgrade
The state-owned oil refinery, Petrojam, which controls about 80-85 per cent of the petroleum market, expects to gross just under $80 billion from its refined products this year, but will spend $75 million, or 94 cents per dollar earned, to secure the sales.
Impaired UK investment erodes Radio Jamaica's profit
Radio Jamaica's investment in the struggling GV Media group has dragged down the broadcaster's performance, pushing it into loss position, despite its otherwise creditable growth in revenues. From net profits of $93 million in 2006, RJR this week announced a $32.4 million loss...
Jamaica Producers Group (JP) to invest $590m in operations
BUILDING ON its new strategy to concentrate on new segments in its food processing business and branded products going forward, the has budgeted $590 million for its capital expenditure this year. Company executive Paul Samuels told the Financial Gleaner...
Development Bank of Jamaica (DBJ) director critical of 'onerous' SME lending policy
A director of the Development Bank of Jamaica (DBJ), Albert Gray, has castigated local banks and other lenders for failing, he said, to provide significant loan portfolios to boost the small and medium enterprise (SME) sector. Gray who was participating...
Regional indebtedness and emerging market risk
Perhaps unsurprisingly, considering that leading regional finance magazine, Latinfinance had opted to hold its sixth Euromoney: Caribbean Investment Forum in Jamaica, the opening discussion topic of the conference was regional indebtedness....
Antigua hauls US$3min World Cup revenue - Spent US$1.5m to host matches
WORLD CUP Antigua and Barbuda Inc., (WCAI) the local organising committee (LOC) for the Cricket World Cup staged for the first time in the Caribbean earlier this year, has reported that its revenue from ticket sales for the event should exceed US$3 million....
Delta adds NewYork-Montego Bay flights to schedule
Delta Air Lines last week inaugurated flights from JFK Airport in New York to Sangster International.Delta will fly a Boeing 737-800 on the New York-MoBay route six days per week, Wednesday through Monday, touching down in Jamaica near midday and returning mid-afternoon....
Finance company launches share offering
THE EAST Caribbean Financial Holding Company (ECFH) has launched an Eastern Caribbean offering of new ordinary shares at a maximum of EC$8 million (US$3.8 million).The offering, which is being posted for a limited time from June 18-22, comes on the heels of a record profit...
Sampling errors and the fantasy of polling
READING THE Gleaner lately unearths a fascination with knowing the future. In this case, elections. Important as they are, I don't plan to say much except that pollsters have for years taken Jamaicans for a fantasy roller coaster ride - providing views on topical issues....
Alcan expected to mount counterbid for Alcoa - Says considering 'all options'
Alcan Inc., said Wednesday it was considering it to a US$28.4 billion hostile takeover offer from Alcoa Inc., but declined to say if a counterbid for its U.S. aluminium rival was one of them. "The strategic committee continues to look at all options," Alcan spokeswoman Anik Michaud said.
Government of Jamaica puts rein on spending in April
Jamaica began the fiscal year with a near $3 billion deficit, the Finance Ministry's April financials show, a significantly better outcome than the $4.8 billion budgeted. Government spending was almost $2 billion below projections - evidence of tightened purse strings...
Broilers reports $910m ethanol expenditure
Jamaica Broilers Group has received its first shipment of wet or hydrous ethanol, 5.5 million gallons, but production start-up at its new dehydration plant remains on a mid-year timetable, the conglomerate said in a report to shareholders.
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