Andrew Jackson Executive Chairman Jetcon Corporation Limited (JETCON) – has released the following Unaudited Financial Statements for First Quarter ended March 31 2024.

Jetcon Corporation ended the first quarter of 2024 cutting net losses almost in half compared to the same period in 2023, at $0.89m compared with $1.76m last year.

Cost of Sales decreased 37 percent, to $112m from $154m last year.

Earnings per share total 0.15 cents, down from 0.30 cents last year.

On the balance sheet Inventories total $400 million, which includes used and new vehicles, and solar products, while receivables total $97 million and includes deposits on purchases of imports.

Banks continue to give more favourable lending rates towards the purchase of new cars than used cars, and this is reflected in the continuing stagnation of used car sales. We are therefore shifting focus towards the sale of new cars with the BAIC brand, and we have received positive feedback thus far with the models. Resources will be increasingly transferred from used sales to new sales as new sales pick up.

Similarly, solar product sales continue to be positive, and combined with new car sales, we expect this will form the bulk of revenue in the next 12 months, with much higher profit margins than that of used car sales.

Our Audited Financials for the year ended 2023 will be posted within the next two weeks, and the Board and management regret their lengthy delay. We would like to thank shareholders, management, staff and customers for their continued support.

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Richard Pandohie Chief Executive Officer for Seprod Group Limited has released the following summary Interim Report to Stockholders from their 1st Quarter Unaudited Financial Statements

Seprod Group Limited (Q1 2024)
Year and Quarter-to-Date Performance (January-March 2024) Revenues:

• Total Revenue: $28.59 billion, up by $1.53 billion (6%) from Q1 2023.
• Gross Profit: $9.48 billion, up by $1.14 billion (13%) from Q1 2023.
• Net Profit: $1.20 billion, down by $152 million (11%) from Q1 2023.

Comments on Performance:

Revenue Drivers:

• Margarine Production: Normalized post-plant upgrade; aggressive market share recovery underway.
• Juice and Dairy Beverages: Demand exceeds capacity; new production capacity to be added later this year.
• Export Sales: Increased by 27%.
• Bryden Group Premium Beverages: Revenue negatively impacted by a short carnival season in Trinidad and Tobago.

Net Profit Factors:

• Interest Expense: Increased due to higher interest rates.
• Effective Tax Rate: Higher in Bryden Group due to business mix changes and expired benefits.
• Dairy Farm Costs: Increased significantly due to drought in Jamaica.
• Pharmaceutical Business: Supply chain challenges.
• Cost Increases: Insurance, interest rates, security, transportation, etc., have eroded profit margins.

The company continues to focus on creating sustainable shareholder value through regional platform expansion and investment in talented, motivated personnel.

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Khary Robinson Executive Chairman Mailpac Group Limited has released the following Directors’ Report To Shareholders for the quarter ended March 31, 2024.

Introduction

Mailpac Group Limited (“Mailpac” or the “Company”) presents its unaudited financial statements for the quarter ended March 31, 2024.

Throughout the quarter, Mailpac focused on closing on the acquisition of MyCart, a significant step in entrenching the business as the leader in e-commerce fulfillment in Jamaica. Not only will the transaction significantly expand market share and improve service delivery, but the brands in the group are now better positioned to meet the goals and needs of their respective target markets. Additionally, despite increased competition and external factors impacting efficiencies, our financial performance for the reviewed period was commendable.

Financial Performance:

In Q1 2024, Mailpac’s revenue came in at $368.5 million, down by 7.8% from the previous year mainly because of the reduction in Mailpac Local and commissions from the marketplace platform at Aeropost.

Despite the reduction, Gross profit for Q1 was $197.9 million, up by 3.6% compared to the previous year.

Operating expenses in Q1 totaled $130.8 million, a 13.6% increase year-over-year, mainly due to strategic investments in business growth and data protection remediation efforts.

Net profit for Q1 decreased by 16.7% to $50.1 million.

We anticipate profitability improvements in 2024 through customer base expansion and overhead cost reductions due to strategic enhancements and shared key operations between Mailpac and MyCart Express.

Financial Position:

At the end of Q1 2024, Mailpac’s Total Assets were valued at $626.3 million, with a cash position of $156.2 million.

Shareholder’s Equity stood at $537.9 million.

Outlook:

With the completion of the acquisition of MyCart Express at the end of March 2024, we are optimistic about the expected synergistic benefits, enhanced revenue streams, operational efficiencies and increased shareholder value from Q2 onwards.

We are confident that the decision to bring both brands under the same umbrella will position Mailpac for continued growth, industry leadership and success in e-commerce.

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Christian E. Mouttet Chairman For Agostini’s Limited has released the following Unaudited Half-year Summary Consolidated Results for Agostini’s to March 31, 2024

The Agostini’s Group maintained a consistent financial performance during the First Half of the 2024 Financial Year.

Revenue increased 7%, reaching $2.57 billion, and operating profit improved marginally to $269 million.

Profit attributable to shareholders, excluding the one-off, non-cash Net Gain on Acquisition, decreased by 6% from $l30 million to $122 million, largely as a result of some non-recurring gains recorded in the previous year, including the profit from the divestment of the Agostini’s contracting division.

Earnings per Share for the first six months were $1.76 versus $1.88 in the prior year without the net gain ($3.93 inclusive of the gain).

Our Consumer Products and Energy & Industrial segments continued to perform well during the period, however, Pharmaceutical & Health Care lagged in profitability in the Second Quarter. This was partially due to supply chain disruptions as well as softer conditions in some regional markets, both of which we are working to improve in the Second Half.

At the end of April, the Group formed a strategic alliance with Linda’s Bakery acquiring 14 of their retail outlets, through our SuperPharm retail subsidiary. This acquisition facilitates our efforts to expand our Presto brand of freshness and convenience across Trinidad & Tobago.

We are in the process of structuring our Pharmaceutical & Health Care and Consumer Products segments to take advantage of our regional position, which has stemmed from our acquisitions in recent years, and this should be completed by the end of the financial year.

We expect to reap the benefits of this now and in the future and remain confident in our strategy for long-term sustainable growth

Based on our Half-year results, the Directors have approved an interim dividend of 40c per share, similar to the prior year. The dividend will be paid on June 28, 2024, to members on the register on June 3, 2024. Our share register will be closed on June 4 and 5, 2024.

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Daniela Bucaro Chairman for Unilever Caribbean Limited has released the following Unaudited Financial Statement for the First Quarter ended 31 March, 2024

Unilever Caribbean Limited has continued to improve its performance, with a net profit of $6m for the quarter, representing a 147.2% increase compared to the previous year.

Revenue for the quarter totalled $57m, reflecting an 18.6% decrease compared to the first quarter of 2023. The higher comparator in the prior year was mainly related to close-out promotions of COVID-related products, which increased revenue.

The Company has maintained its emphasis on driving profitable growth for longterm sustainability. This strategic focus resulted in significant growth in the Beauty and Personal Care category, which now accounts for 49.3% of total revenue, up from 45.2% in the previous year.

Home Care accounts for 39.3% of revenue, with Food & Refreshments making up 11.4%. This shift, as well as a reduction in freight costs, has boosted overall margins during the first quarter.

Cost management strategies and cash flow optimization initiatives have been successfully implemented, resulting in a 21.9% decrease in Selling and Distribution as well an Administrative Expenses, and a 21.5% reduction in Inventories.

Additionally, the cash balance increased by $9.4m, with a balance of at $167.3m. This approach has resulted in a significant improvement in operating profit of $9.4m, reflecting a 221% increase compared to the previous year.

The earnings per share for the first quarter were TT $0.23, representing a significant
increase from TT$0.09 during the same period in 2023.

The Company maintains a robust balance sheet with healthy cash reserves and remains committed to driving sustainable and profitable growth through its brands.

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