1834 Investments Reporting 19% Reduction In Revenues For The 12 Months To March 2018
1834 Investments Limited, formerly The Gleaner Company Limited, is reporting revenues of JA$161 million for the 12 months to March 2018, a reduction of 19 percent over the prior year $199 million.
A decline in local interest rates and two early US bond redemptions by issuers contributed to the $15 million or 32 percent reduction in interest income, the directors reported.
1834 Investments Chairman Oliver Clarke reported that the company recorded profits after tax of $82 million from its consolidated operations in real estate and investments over the 12 months, a major improvement on the $12 million reported for 2017.
Earnings of 6.76 cents per share, an improvement on the 1 cent reported for 2017, was driven by gains on the disposal of property and equity investments, and by interest and rental income generated from the company’s investment portfolio.
Further streamlining of the operations for greater efficiency was continued, including the winding up of non-operational subsidiaries, including 1834 investments Canada Inc, with four other dormant subsidiary companies in the process of windup.
The Directors have approved the payment of a dividend of 8 cents per share or $97 million, providing a 6.7 percent dividend yield based on the March 29th 2018 closing share price.
To view 1834 Investments Limited Audited Financial Statements for the Year Ended March 31, 2018 click HERE