The Directors of Sagicor Group Jamaica Limited (SGJ or the Group) are reporting for the six months ended June 2019 that revenue grew by 33%, moving from JA$32.02 billion in 2018 to JA$42.59 billion in 2019.
The Group is also reporting net proﬁt attributable to stockholders of JA$6.39 billion, or $1.64 per share, which was better than 2018 by 21%.
The annualized return on stockholders’ equity for year-to-date results was 16% as against 15% for 2018.
Stockholders’ equity stood at $82.80 billion as at June 2019.
The consolidated net proﬁt of $7.13 billion, is inclusive of stockholders’ share of $6.39 billion.
Christopher Zacca, Group President & CEO, commenting on the results reported that the 2018 numbers include impairment charges on Government of Barbados and other bonds.
Excluding this Credit Loss charge and the impact of new subsidiaries, normal revenue would have grown by 22%.
An interim dividend of $0.79 per share or $3.09 billion was declared during Q2 2019.
Strong earnings and fair value appreciation of certain bonds being carried as fair value through OCI contributed to an 11% growth in stockholders’ equity during the six months’ period he reported.