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Businessuite 2017 Skin Index By Executive – Caribbean

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Businessuite 2017 Skin Index By Executive – Caribbean
2017 Rank Executive Company Skin Holdings 2017 Skin Index
1 Anthony N. Sabga ANSA Merchant Bank Limited 72,929,056 85.19%
2 Mark Hart Caribbean Producers Ja Ltd 880,000,000 80.00%
3 Hugh Graham Paramount Trading (Jamaica) Ltd 123,396,684 80.00%
4 Lascelles Chin Lasco Manufacturing Limited 3,247,122,250 79.45%
5 Lascelles Chin Lasco Distributors Limited 2,668,889,040 79.07%
6 Donovan Lewis Salada Foods Jamaica 81,447,767 78.40%
7 Rita Humphries-Lewin Barita Investments 339,975,664 76.40%
8 Derrick Cotterll Caribbean Flavours & Fragrances Ltd 67,457,330 75.02%
9 Charles Graham Palace Amusement 1,074,444 74.77%
10 Kingsley Cooper Pulse Invesments Ltd. 198,344,919 72.98%
11 Anthony Chang Consolidated Bakeries (Jamaica) Ltd 155,675,286 69.90%
12 Christian E. Mouttet Prestige Holdings Limited 42,685,422 68.28%
13 Michael Lee Chin National Commercial Bank Jamaica Ltd. 1,615,291,544 65.48%
14 Anthony N. Sabga ANSA Mc Al Limited 110,898,547 62.94%
15 Lascelles Chin Lasco Financial Services Limited 761,704,332 62.02%
16 Andrew Jackson Jetcon Corporation Limited 117,302,400 60.31%
17 Steven Marston CAC 2000 Limited 67,462,522 52.28%
18 Dennis Smith (Gencorp Limited) ISP Finance Services Limited 54,517,500 51.92%
19 Dahru Tanner Blue Power Group Limited 28,300,800 50.09%
20 Ian Dear Margaritaville Caribbean Limited 25,000 50.00%
21 Ivan Berry C2W Music Limited 180,000,000 45.00%
22 Marcus James Access Financial Services Limited 120,220,534 43.79%
23 Robert Chung (Sunfisher Corp) ISP Finance Services Limited 45,832,500 43.65%
24 Christian Mouttet Agostini’s Limited 29,526,008 42.80%
25 Stephen B Facey Pan-Jamaican Investment Trust 433,878,694 40.70%
26 Paul Facey Pan-Jamaican Investment Trust 433,878,694 40.70%
27 John W. Lee 138 Student Living Jamaica Limited 167,439,627 40.40%
28 Derrick Cotterll Derrimon Trading Company Ltd 110,000,000 40.24%
29 Michelle Chong Honey Bun (1982) Limited 37,500,000 39.79%
30 Herbert Chong Honey Bun (1982) Limited 37,500,000 39.79%
31 Christopher Berry Mayberry Investments Ltd. 470,222,514 39.15%
32 Edward Charles Alexander tTech Limited 41,284,834 38.95%
33 Konrad Berry Mayberry Investments Ltd. 465,985,397 38.79%
34 Oliver Clarke 1834 Investments Limited 434,557,600 35.88%
35 Violet Helen Mahfood Jamaican Teas Limited 118,015,318 34.98%
36 Oliver Townsend Knutsford Express Limited 33,526,664 33.53%
37  R. Geoffrey Cave, Cave Shepherd & Company Limited 5,858,534 32.02%
38 Scoops Un-Limited Limited Caribbean Cream Limited 121,141,801 32.00%
39 Antonia Hugh AMG Packaging & Paper Co Ltd 32,351,718 31.60%
40 John Mahfood Jamaican Teas Limited 94,064,178 27.88%
41 Antony Hart Cargo Handlers Limited 11,324,264 27.21%
42 Mark Hart Cargo Handlers Limited 10,991,198 26.41%
43 Jane Fray Cargo Handlers Limited 10,991,198 26.41%
44 Richard Evan Thwaites IronRock Insurance Company Limited 56,000,000 26.17%
45 William A. McConnell IronRock Insurance Company Limited 54,500,000 25.47%
46 Natalia Gobin-Gunter Key Insurance Company Limited 88,405,445 25.11%
47 Sandra Masterton Key Insurance Company Limited 88,405,444 25.11%
48 Kayla Abrahams Key Insurance Company Limited 88,405,444 25.11%
49 Anthony Copeland Knutsford Express Limited 23,926,664 23.93%
50 George Hugh AMG Packaging & Paper Co Ltd 24,263,792 23.70%
51 Mark Chin/Paul Chin AMG Packaging & Paper Co Ltd 24,263,792 23.70%
52 Joseph Bogdanovich KLE Group Limited 23,168,835 23.17%
53 Colin Roberts CAC 2000 Limited 27,355,291 21.20%
54 Derek Wilkie C2W Music Limited 80,000,000 20.00%
55 Nicholas Scott Eppley Limited 156,849 19.70%
56 Winston Boothe Medical Disposables & Supplies Ltd 50,000,000 19.00%
57 Myrtis Boothe Medical Disposables & Supplies Ltd 50,000,000 19.00%
58 Kurt Boothe Medical Disposables & Supplies Ltd 50,000,000 19.00%
59 Nikeisha Boothe Medical Disposables & Supplies Ltd 50,000,000 19.00%
60 Henry Graham Sweet Rier Abattoir & Supplis Company 15,035,009 18.44%
61 Nigel Clarke Eppley Limited 142,631 17.91%
62 Gordon Townsend Knutsford Express Limited 17,526,664 17.53%
63 Melanie Subratie Eppley Limited 136,020 17.08%
63 P.B. Scott Eppley Limited 136,020 17.08%
64 Gary Matalon KLE Group Limited 16,073,628 16.07%
65 Carol Clarke Webster Caribbean Cream Limited 58,521,764 15.46%
66 Matthew G. Clarke Caribbean Cream Limited 58,221,764 15.38%
67 Monique Cotterll Derrimon Trading Company Ltd 40,000,000 14.63%
68 Norman Abraham Chen tTech Limited 15,391,566 14.52%
69 Christopher Reckord tTech Limited 15,263,795 14.40%
70 Christpher Clarke Caribbean Cream Limited 53,221,764 14.06%
71 Robert Levy Jamaica Broilers Group 152,376,620 12.71%
72 Ian Kent Levy Supreme Ventures 324,541,171 12.31%
73 Stafford Burrowes Dolphin Cove Limited 45,367,938 11.56%
74 Stephen Shirley KLE Group Limited 10,111,500 10.11%
75 Charles. H. Johnston Jamaica Producers Group 17,510,498 9.36%
76 M. McG. Hall Jamaica Producers Group 16,769,284 8.97%
77 Hugh O’Brian Allen tTech Limited 8,806,028 8.31%
78 Joseph Matalon 1834 Investments Limited 93,628,124 7.73%
79 J. A. Lester Spaulding Radio Jamaica 26,607,207 7.44%
80 Douglas R. Orane Gracekennedy Ltd. 21,358,272 6.45%
81 Paul Hoo Supreme Ventures 170,000,000 6.45%
82 Arthur Lok Jack Guardian Holdings Limited 14,590,771 6.29%
83 Keith P. Duncan JMMB Group Ltd 101,144,376 6.20%
84 Valdence Gifford Sweet Rier Abattoir & Supplis Company 4,995,058 6.13%
85 Ian C. Kelly Derrimon Trading Company Ltd 15,743,459 5.76%
86 Peter Bunting Proven Investments Limited 30,087,130 5.45%
87 Donna Duncan-Scott JMMB Group Ltd 87,013,712 5.34%
88 Noel A. Lyon JMMB Group Ltd 84,061,652 5.16%
89 Winston Thomas Derrimon Trading Company Ltd 13,363,979 4.89%
90 Douglas Stibel 138 Student Living Jamaica Limited 15,673,025 3.78%
91 Charles Ross Sterling Investments Limited 1,892,790 3.39%
92 Donald G. Wehby Gracekennedy Ltd. 10,929,855 3.30%
93 Mrs. K.A.J. Moss Jamaica Producers Group 6,060,078 3.24%
94 Gary Peart Mayberry Investments Ltd. 34,740,915 2.89%
95 Wilfred Espinet Trinidad Cement Limited 10,285,195 2.75%
96 Neville James Access Financial Services Limited 7,174,950 2.61%
97 Garfield H Sinclair Kingston Properties Limited 4,164,407 2.59%
98 Ian C. Kelly Caribbean Flavours & Fragrances Ltd 2,322,814 2.58%
99 Peta Rose Hall Barita Investor only 11,188,814 2.51%
100  Jeffrey. McG. Hall Jamaica Producers Group 4,418,537 2.36%
101 Wayne Sutherland JMMB Group Ltd 38,050,860 2.33%
102 Marcelle Smart tTech Limited 2,370,399 2.24%
103 Radcliff Knibbs Paramount Trading (Jamaica) Ltd 3,053,605 1.98%
104 Winston Hepburn Proven Investments Limited 10,200,000 1.85%
105 Thersa Chin Cargo Handlers Limited 760,022 1.83%
106 R. M. Cave Cave Shepherd & Company Limited 320,235 1.75%
107 Ryan Mack Gracekennedy Ltd. 1,202,460 1.49%
108 Primrose Smith ISP Finance Services Limited 1,500,000 1.43%
109 Christopher Levy Jamaica Broilers Group 16,844,106 1.40%
110 John Minott Barita Investments 5,885,322 1.32%
111 Karl Lewin Barita Investments 5,675,322 1.28%
112 Christopher Barnes Radio Jamaica 4,307,000 1.20%
113 George W. Cooper Barita Investments 5,302,322 1.19%
114 Anthony J. Agostini Agostini’s Limited 746,685 1.08%
115 Garfield H Sinclair Proven Investments Limited 5,505,218 1.00%
116 A. Norman Sabga ANSA Mc Al Limited 1,649,453 0.94%
117 Anthony James Caribbean Flavours & Fragrances Ltd 820,700 0.91%
118 William Putnam Goddard Enterprises Limited 502,027 0.89%
119 John Jackson Jetcon Corporation Limited 1,620,000 0.83%
120 Patrick Hylton National Commercial Bank Jamaica Ltd. 18,799,058 0.76%
121 Richard Byles Sagicor Group Jamaica Limited 25,617,515 0.66%
122 Frank A. R. James Gracekennedy Ltd. 2,010,153 0.61%
123 Romae Gordon Pulse Invesments Ltd. 1,635,279 0.60%
124 Jacinth Hall-Tracey Lasco Financial Services Limited 7,346,198 0.60%
125 Dodrige Miller Sagicor Financial Corporation 1,707,967 0.56%
126 Wayne N. Hardie IronRock Insurance Company Limited 1,025,727 0.48%
127 Michael Ranglin Gracekennedy Ltd. 1,568,097 0.47%
128 Parasram Heerah Trinidad Cement Limited 1,735,277 0.46%
129 Eileen Chin Lasco Distributors Limited 15,006,740 0.44%
130 Christopher Barnes 1834 Investments Limited 5,308,834 0.44%
131 Peter Chin Lasco Distributors Limited 14,000,000 0.41%
132 Safia Cooper Pulse Invesments Ltd. 1,079,422 0.40%
133 Eileen Chin Lasco Manufacturing Limited 16,000,000 0.39%
134 Claudette Cook Jamaica Broilers Group 4,060,899 0.34%
135 Sharon Donaldson General Accident Insurance Co Ltd 3,377,956 0.33%
136 Donovan Perkins Sagicor Group Jamaica Limited 12,207,687 0.31%
137  John M. B. Williams Cave Shepherd & Company Limited 56,602 0.31%
138 Jinda Maharaj Trinidad Cement Limited 1,071,532 0.29%
139 Charles Herbert Goddard Enterprises Limited 159,097 0.28%
140 Peter Ganteaume Guardian Holdings Limited 645,000 0.28%
141 Ian Parsard Jamaica Broilers Group 3,207,739 0.27%
142 John Lum Young One Caribbean Media Limited 170,500 0.26%
143 Marilyn Burrowes Dolphin Cove Limited 1,000,008 0.25%
144 Richard Byles Sagicor Real Estate X Fund 5,389,505 0.24%
145 Ivan Carter Sagicor Group Jamaica Limited 9,076,673 0.23%
146 Angela Sobrian Prestige Holdings Limited 136,512 0.22%
147 Gordon V. Shirley Gracekennedy Ltd. 612,092 0.18%
148 Charles R. Pashley Prestige Holdings Limited 110,000 0.18%
149 Elliot Gervase Warner Massy Holdings Limited 161,588 0.17%
150 Paula Rajkumarsingh Massy Holdings Limited 145,017 0.15%
151 Richard Kellman Sagicor Financial Corporation 421,576 0.14%
152 Peter Chin Lasco Manufacturing Limited 5,585,980 0.14%
153 Anthony Martins Prestige Holdings Limited 79,996 0.13%
154 Fé Lopez-Collymore Guardian Holdings Limited 291,913 0.13%
155 Brent Ford Guardian Holdings Limited 268,417 0.12%
156 A. Alex Balogun Lasco Distributors Limited 3,429,733 0.10%
157 Gary Allen Radio Jamaica 361,228 0.10%
158 David B. Sabga ANSA Mc Al Limited 172,404 0.10%
159 Norman Russell Jamaican Teas Limited 300,000 0.09%
160 Douglas R. Orane 1834 Investments Limited 1,053,553 0.09%
161 Angela Hamel-Smith Massy Holdings Limited 82,296 0.08%
162 Andrew N. Sabga ANSA Mc Al Limited 122,858 0.07%
163 Ian A Mcnaughton Barita Investments 296,000 0.07%
164 Rohan Miller Sagicor Group Jamaica Limited 2,595,465 0.07%
165 Philip Armstrong Sagicor Group Jamaica Limited 2,547,982 0.07%
166 Mark Chisholm Sagicor Group Jamaica Limited 2,391,853 0.06%
167 Ingrid Innes Insurance Corporation of Barbados Limited 23,979 0.06%
168 Rashidan Bolai One Caribbean Media Limited 40,000 0.06%
169 Richard Espinet Guardian Holdings Limited 124,758 0.05%
170 Ravi Tewari Guardian Holdings Limited 116,044 0.05%
171 Parasram Heerah Readymix (West Indies) Limited 5,645 0.05%
172 Rajesh Rajkumarsingh Agostini’s Limited 28,230 0.04%
173 Richard Pandohie Seprod Limited 200,000 0.04%
174 Robin Levy Jamaica Stock Exchange Ltd 50,000 0.04%
175 Ranjit R Jeewan The West Indian Tobacco Company Limited 28,000 0.03%
176 Anthony Ali Goddard Enterprises Limited 18,141 0.03%
177 Robert Bermudez Massy Holdings Limited 27,849 0.03%
178 Anand Ragbir Trinidad and Tobago NGL Limited 28,238 0.02%
179 Garfield H Sinclair Cable and Wireless Jamaica – FLOW 4,021,000 0.02%
180 Grantley Stephenson Kingston Wharves 331,369 0.02%
181 Anthony N. Sabga III Guardian Media Limited 9,035 0.02%
182 Rohan Miller Sagicor Real Estate X Fund 500,000 0.02%
183 Archibald Campbell JMMB Group Ltd 363,227 0.02%
184 Marlene Street Forrest Jamaica Stock Exchange Ltd 30,000 0.02%
185 Goulbourne Alleyne, Insurance Corporation of Barbados Limited 7,985 0.02%
186 Jean-Pierre S du Coudray The West Indian Tobacco Company Limited 14,219 0.02%
187 Joseph Esau Agostini’s Limited 10,000 0.01%
188 James Morrison Supreme Ventures 345,165 0.01%
189 Aneal Maharaj ANSA Mc Al Limited 21,202 0.01%
190 Nigel M. Baptiste Republic Financial Holdings Limited 17,070 0.01%
191 Harold Ragbir PLIPDECO Limited 4,046 0.01%
192 Ernest Ashley Taylor PLIPDECO Limited 4,000 0.01%
193 Sharon Christopher First Citizens Bank Limited 23,227 0.01%
194 Gerry C. Brooks Trinidad and Tobago NGL Limited 10,694 0.01%
195 Stephen McNamara Sagicor Financial Corporation 23,993 0.01%
196 Andrew Jupiter Trinidad and Tobago NGL Limited 9,078 0.01%
197 Kevin Richards Kingston Properties Limited 10,500 0.01%
198 Parasram Salickram Republic Financial Holdings Limited 10,183 0.01%
199 Patsy Latchman-Atterbury Scotia Group Jamaica 191,576 0.01%
200 Jacqueline Sharp Scotia Group Jamaica 190,010 0.01%
201 Anthony C. Subero Republic Financial Holdings Limited 9,294 0.01%
202 Roxane E. de Freitas Unilever Caribbean Limited 1,000 0.00%
203 Dennis Cohen National Commercial Bank Jamaica Ltd. 86,480 0.00%
204 Dawn Thomas One Caribbean Media Limited 2,000 0.00%
205 Ronald F. deC. Harford Republic Financial Holdings Limited 4,574 0.00%
206 Jason Julien First Citizens Bank Limited 5,000 0.00%
207 Jerry Hospedales National Enterprises Limited 8,410 0.00%
208 Reshard Mohammed Scotiabank Trinidad & Tobago Limited 2,076 0.00%
209 Richard Look Kin First Citizens Bank Limited 2,381 0.00%
210 Horace (Craig) Mair Scotia Group Jamaica 24,741 0.00%
211 Lissant Mitchell Scotia Investments Jamaica 2,000 0.00%
212 Ross Alexander National Enterprises Limited 2,000 0.00%
213 Anya M. Schnoor Scotiabank Trinidad & Tobago Limited 500 0.00%
214 Solmer Thom The West Indian Tobacco Company Limited 50 0.00%
215 Alejandro Vares Caribbean Cement Co. 300 0.00%
216 Mustafa Turra Berger Paints Ltd 0 0.00%
217 Marcus Steele Carreras Limited 0 0.00%
218 Dr. Rolph N.S. Balgobin Angostura Holdings Limited 0 0.00%
219 Robert Wong Angostura Holdings Limited 0 0.00%
220 Romesh Singh Angostura Holdings Limited 0 0.00%
221 Gregory N. Hill ANSA Merchant Bank Limited 0 0.00%
222 Trevor Edwards ANSA Merchant Bank Limited 0 0.00%
223 Directors’ Shareholding Berger Paints Trinidad Limited 0 0.00%
224 Senior Management Shareholding Berger Paints Trinidad Limited 0 0.00%
225 Karen Darbasie First Citizens Bank Limited 0 0.00%
226 Anthony Isidore Smart First Citizens Bank Limited 0 0.00%
227 Teresa White Guardian Media Limited 0 0.00%
228 Larry Jerome Guardian Media Limited 0 0.00%
229 Terrance Clarke National Enterprises Limited 0 0.00%
230 Faarees Hosein One Caribbean Media Limited 0 0.00%
231 Anthony Shaw One Caribbean Media Limited 0 0.00%
232 Ian R. H. Atherly PLIPDECO Limited 0 0.00%
233 Haroon Fyzool Awardy PLIPDECO Limited 0 0.00%
234 Malcolm Sooknanan Readymix (West Indies) Limited 0 0.00%
235 Nigel Edwards Readymix (West Indies) Limited 0 0.00%
236 Andres Peña Readymix (West Indies) Limited 0 0.00%
237 Tricia De La Rosa-Camacho Scotiabank Trinidad & Tobago Limited 0 0.00%
238 Brendan King Scotiabank Trinidad & Tobago Limited 0 0.00%
239 Anthony E Phillip The West Indian Tobacco Company Limited 0 0.00%
240 Sheldon K. Sylvester Trinidad and Tobago NGL Limited 0 0.00%
241 José Luis Seijo González Trinidad Cement Limited 0 0.00%
242 Pablo Garrido Unilever Caribbean Limited 0 0.00%
243 Lucy Walsh Unilever Caribbean Limited 0 0.00%
244 Mark Beepath Unilever Caribbean Limited 0 0.00%
245 Banks Holdings Limited 0 0.00%
246 BICO Industries Limited 0 0.00%
247 Cable & Wireless (Barbados) Limited 0 0.00%
248 Owned by Parent 91.67% First Caribbean International Bank Limited 0 0.00%
249 R. John Wight Insurance Corporation of Barbados Limited 0 0.00%
250 Christopher D. Bynoe West India Biscuit Company Limited 0 0.00%
251 Adrian Padmore West India Biscuit Company Limited 0 0.00%

Businessuite Markets

Spur Tree Spices Projected Revenue Growth Negatively Impacted By Raw Material Shortages

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Albert Bailey CEO of Spur Tree Spices Jamaica Limited has released the following report for the first quarter ended March 31, 2024, including the presentation of unaudited financial statements, prepared in accordance with International Financial Reporting Standards (IFRS).

Performance Review

Revenue for the quarter moved from $383.6M to $394.5M, an increase of 2.8% over the same quarter for 2023. Projected revenue growth was negatively impacted by raw material shortages experienced in the Agro processing sector since the 2nd quarter of 2023. These shortages impacted the Company’s ability to fulfil customer orders during the quarter.

The Company sustained far higher raw material input costs this quarter, relative to the similar quarter of the previous year due to the impact of raw material shortages. Therefore, Cost of Sales for the quarter rose from $259.5M to $287.6M, an increase of 10.8%.

There are positive signs that raw material supplies are gradually returning to normal levels, and associated costs are also coming down. We expect to see a continued movement in this direction, and a full return to normal raw material prices in the coming months.

The rollout of a wide range of new products to market, that do not use these primary raw material inputs, is a part of the company’s strategic initiatives to reduce the risk and vulnerability associated with this area of our business. The Company’s venture into farming also aligns with our strategy to achieve greater raw material stability and therefore lessen any future negative impact on performance.

Gross Profit for the period was $106.9M, down from $124.2M for the same period in 2024. This represents a 13.9 % decline year over year for the same period. The fall in gross profit resulted from the increase in raw material input costs sustained during the period.

With the initiatives being implemented to reduce costs, and the general downward trend in the price of raw materials inputs, the Company anticipates a full recovery of gross profit margins in the coming quarters.

Administrative Expenses for the 1st quarter was 71.4M, up from $66.8M for the corresponding period in 2023. This is an increase of 6.9%, which is commendable given the current circumstances. This means, administrative expenses as a percentage of revenue ticked up slightly from 17.4 % of sales in the first quarter of 2023, to 18.09% for the similar quarter in 2024.

The company will continue to tightly monitor this area of expenditure while working to get our revenue and gross margin back to targeted levels.

Finance Costs for the 1st quarter were $9.5M, down from $10.4M in 2023. This represents an 8.2% reduction for the quarter.

Net Profit attributable to the owners of the company for the quarter was $31M, down from $47.8M for the same quarter in 2023. While net profit is down compared to the same quarter last year, the company’s profit has improved over the last quarter (4th quarter), in which similar raw material challenges were faced.

The performance for the quarter, while not at the level projected, was commendable given the many challenges faced.

Outlook

The Company’s outlook remains very bright and positive. Spur Tree Spice is strategically positioned for substantial growth and expansion in 2024. The leadership has undertaken several important initiatives to ensure the continued success of the Company as we expand the reach and strength of the brand across all markets.

Some of the initiatives are:

  • Spur Tree Spices Farming Initiative: Raw Materials supplies sourced directly from the farm made a significant contribution to the Company’s ability to fulfil orders during the first quarter. There are currently 13 acres of Scotch Bonnet Pepper under cultivation and 12 acres of West Red Pepper. In addition, there are enough seedlings at our nursery to plant another 18 acres of Scotch Bonnet Pepper in the coming weeks. This will bring the total acreage of pepper under cultivation to 43, with an expected output of over 650,000 lbs. This level of output, supplemented by supplies from our farming partners, will guarantee adequate quantities of pepper for the remainder of 2024. The next phase of the plan is to put into production, other raw material inputs to supplement current supplies from our farming partners.
  • Launch of New Products: Spur Tree Spices has just launched 37 new SKUs across several product lines to include, Dry Seasonings, Fried Chicken Mix, BBQ Sauces, and a range of condiments including dips. Many of these formulations are first to market and based on market research and customer engagement, it is expected that these new items will gain significant traction in all current markets, locally and internationally. Along with these launches, the Company used the opportunity to refresh our brand’s aesthetic to reflect our creativity and to create a compelling brand identity that resonates with both local and global audiences.
  • Additional Upcoming Launches: The company is working to bring to market even more new products by July 2024. These are high demand/high usage items that should have a very positive impact on revenue and profit and generate strong brand response.
  • Improved Ackee Production: Capacity at both Ackee factories is being upgraded to drive production and output of ackee during the next crop which is expected to begin in June 2024. Both entities will be in a much-improved position to maximize its production of ackee moving forward.
  • Diversification of Linstead Market Brand: We are currently working on several new products to be launched under the Linstead Market brand. These items will be introduced to market by August 2024. This will be the first rollout of many items being considered to diversify the offerings under this brand.

We are confident that with these initiatives and others to come, the Company is well on its way to becoming an internationally recognized food brand known for creativity, quality and being ironically Jamaican. The Board of Directors and the Executive Management Team are committed to ensuring the Company remains on track to maximize shareholders’ value while building a strong, sustainable, and profitable brand.

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Businessuite Markets

Strategic Implications of A.S. Bryden & Sons Holdings Limited’s Acquisition of a Stake in Caribbean Producers Jamaica Limited

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A.S. Bryden & Sons Holdings Limited (ASBH), a prominent Trinidad and Tobago-based conglomerate, has recently acquired a 44.8% stake in Caribbean Producers (Jamaica) Limited (CPJ). This strategic move carries significant implications for both companies and the wider Caribbean market.

Expansion and Synergy

ASBH’s acquisition of CPJ represents a strategic expansion of its footprint in the Caribbean. By entering the Jamaican market, ASBH is set to leverage CPJ’s established distribution networks and customer base in Jamaica and St. Lucia, augmenting its regional presence beyond its existing operations in Trinidad, Barbados, and Guyana​​.

Nicholas A. Scott, Director of ASBH, emphasized that this investment aligns with the company’s regional expansion strategy. He noted that ASBH plans to increase its holdings in CPJ with the ultimate goal of gaining control, subject to regulatory disclosures​. This approach suggests a long-term commitment to integrating and scaling CPJ’s operations within ASBH’s broader business model.

Operational and Financial Benefits

For CPJ, this partnership promises enhanced operational capabilities and financial strength. ASBH’s extensive resources and expertise in food and beverage distribution will likely drive efficiencies and innovation within CPJ. The acquisition also provides CPJ with increased access to hard currency earnings, which is crucial for import-driven businesses in the Caribbean region​.

P.B. Scott, Chairman of ASBH, highlighted that this strategic stake would enable ASBH to serve new markets, particularly in the hospitality and restaurant sectors, leveraging CPJ’s strong presence in these industries. The collaboration is expected to generate significant synergies, boosting growth and competitiveness for both companies​​.

“Over the last 30 years, CPJ has become the pre-eminent distributor of food and beverage products to hotels and resorts in Jamaica and beyond because of the talent and dedication of our team and the support of our loyal suppliers and customers. AS Byrden shares our values and culture and has a track record of building and supporting high-performing management teams.” Mark Hart

Market Impact

The acquisition has broader implications for the Caribbean market. By consolidating its position as the largest shareholder of CPJ, ASBH is poised to influence market dynamics, fostering increased competition and potentially driving innovation within the sector. Additionally, ASBH’s listing on the Jamaica Stock Exchange (JSE) underscores its commitment to transparency and regional integration, providing greater opportunities for investors and stakeholders across the Caribbean​.

Leadership

Nicholas Hospedales, who previously led the food and grocery, premium beverage and operations units at ASBH, will be appointed CEO of CPJ. CEO of ASBH Richard Pandohie will be appointed chairman and co-founder of CPJ Tom Tyler will be appointed deputy chairman. He will also serve as a consultant to the company.

Directors Mark Hart and Candace Hart will also retain their roles.

ASBH directors Nicholas Scott, Michael Conyers and David Franco will be appointed as new directors, replacing Christopher Berry, Konrad Berry, Camille Shields, Frank O’Dowd and Mark Hall.

Hart said the two companies will grow significantly through their collaboration. He expected that working together, the two companies would be able to expand their geographic footprint throughout the region.

Seprod Ltd

In 2023, Seprod Ltd, a regional manufacturing and distribution company headquartered in Jamaica, acquired ASBH at $312.7 million, scooping up a 60 per cent share in the company. Seprod said the acquisition would result in a company with combined annual revenues of more than $3.37 billion. ASBH was valued at $267.9 million in 2022 when Seprod sought to acquire it. To fund the transaction, the company used a combination of a loan of $172.4 million and issued preference shares to the tune of TT$140.3 million.

Seprod has been in regional food manufacturing, distribution and agribusiness since the 1940s. Its manufacturing base includes oils and margarine, wheat and corn milling, integrated dairy, biscuits and snacks. It is also a part of the Musson Group of Companies, which is involved in manufacturing, insurance, information technology, logistics and real estate.

In summary, ASBH’s acquisition of a significant stake in CPJ is a strategic maneuver that promises to enhance the operational capabilities, market reach, and financial stability of both companies. This move not only reflects ASBH’s growth ambitions but also signals a transformative shift in the Caribbean’s food and beverage distribution landscape.

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Businessuite Markets

Kevin Gordon Led Simply Secure Limited Acquires 49.1% Stake in tTech Limited

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Edward “Teddy” Alexander

The Directors of tTech Limited announced that two (2) major shareholders, Edward “Teddy” Alexander and G. Christopher Reckord, have sold 52,012,834 tTech shares, representing 49.1% of tTech Limited’s issued shares. The acquiring entity, Simply Secure Limited, is owned by Kevin Gordon and Rob Mayo-Smith. Messrs. Gordon and Mayo-Smith are also the owners of Simply Secure LLC, a Managed Security Services Provider based in Ft. Lauderdale, Florida.

tTech Limited is a leading IT services provider offering a wide range of services to help businesses manage their IT infrastructure efficiently and securely. Our mission is to deliver exceptional IT services and solutions that empower businesses to thrive in an ever-evolving digital landscape.

Simply Secure LLC is a Managed Security Services Provider based in Ft. Lauderdale, Florida. The company specializes in providing comprehensive security solutions to protect businesses from cyber threats and ensure the safety and integrity of their IT environments.

In light of the fact that the acquisition is beyond the 20% threshold of the issued and outstanding ordinary shares of the company, tTech has duly notified the Jamaica Stock Exchange and the Financial Services Commission pursuant to the applicable JSE Junior Market Rules (Appendix 2) and the applicable Regulations promulgated under the Securities Act that relate to Takeovers and Mergers.

Simply Secure has indicated that upon the acquisition of 50% or more of tTech’s shares, it will extend an offer to all remaining tTech shareholders to purchase their shares. This intended offer to the remaining shareholders will be contingent on the completion of additional due diligence, finalization of the terms of the offer, review by the tTech board and approval by the regulators. Simply Secure and tTech have committed to adhering to the Securities TOM Regulations and the JSE Rules.

The Directors of tTech anticipate that the synergies between tTech and Simply Secure will enhance the services provided by tTech, particularly in the area of Cybersecurity.

There will be some changes at the director and management levels. However, Edward Alexander, who continues as the Board Chair, stated, “I am confident that Simply Secure’s involvement will bring new resources and expertise to tTech Limited. Their focus on Managed Security Services aligns perfectly with our strategic goals.”

 “Under this new arrangement, Simply Secure and tTech are committed to leveraging greater resources to meet the growing demand for Managed Security Services. The primary focus will remain the delivery of exceptional value to our customers and optimal growth opportunities for our employees.” Kevin Gordon, CEO of Simply Secure LLC

 

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Business Insights

RedPlate Group Limited: Corporate Profile

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About RedPlate Group

RedPlate Group Limited is a distinguished Caribbean-based investment holding company, specializing in equity investments across various sectors. Our diversified portfolio includes stakes in both established businesses and promising start-ups, with a focus on:

  • Business-to-Business (B2B)
  • Technology
  • Data-Driven Solutions
  • Integrated Fulfillment Logistics
  • Transportation Solutions
  • E-commerce
  • Mobile Payments

Our Companies

RedPlate Group encompasses a range of dynamic companies, each contributing to our overarching mission:

  • InterMetro Transit Jamaica
  • RedPlate Logistics and Fulfilment Group
  • RedPlate MarketPlace
  • RedPlate Technologies Jamaica Limited
  • RedPlate Financial Group

Innovative Business Model

RedPlate Group’s pioneering business model is poised to revolutionize the transportation and logistics sectors in Jamaica and the broader Caribbean. By leveraging cutting-edge technology, we address current inefficiencies, enhancing productivity and profitability across the value chain. Our holistic, horizontal integration of business units fosters seamless collaboration, creating a robust, technology-driven ecosystem.

Market Opportunity

Jamaica’s transportation and logistics landscape is currently fragmented and inefficient, posing significant challenges for businesses and commuters alike. RedPlate Group aims to resolve these issues by developing a cohesive and interconnected platform. This platform optimizes operations, maximizes resource utilization, and delivers an unparalleled experience for both corporate clients and end consumers.

Strategic Vision

RedPlate Group’s strategic vision is centered around building synergistic relationships and fostering a collaborative environment. Our approach not only fortifies the value chain but also enhances productivity and increases income for all stakeholders. By addressing the fundamental challenges within Jamaica’s transportation and logistics sector, we are paving the way for a more efficient and profitable future.

Conclusion

RedPlate Group Limited invites high net worth investors to join us in transforming the Caribbean’s transportation and logistics industry. Our innovative, technology-driven approach and commitment to excellence position us as a leader in the sector, offering substantial growth and investment opportunities. Together, we can achieve remarkable advancements and drive significant value for our stakeholders.

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Businessuite Markets

Indies Pharma Jamaica Reporting 51% Or J$45M Jump In Net Income For Six-Month Ending 30 April 2024

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Vishnu V. Muppuri (Mrs.) Co-Founder, Executive Director & COO for Indies Pharma Jamaica Limited has released the following Executive Summary For the Six-Months (Q2) Unaudited Financial Results Period Ending 30 April 2024 (FY 2023-24 Quarter 2)

For the second quarter, three months ending Apr 30, 2024, Indies Pharma Jamaica Limited earned gross sales of J$ 301 million, versus J$ 231 million in the prior year, an increment of 30.19%.

❖ Gross Profit for the period was recorded at J$ 208 million in comparison to J$ 163 million, which represents a 27.29% increase (J$ 45 million) in comparison to the prior year.
❖ Net Income recorded is a 147.59% increase (J$ 42 million) in the current 2nd Quarter Period, compared to the prior year.
❖ Earnings per share recorded an increase of 147.59% in the current 2nd Quarter Period, in comparison to the prior year.

For the six months ending Apr 30, 2024, Indies Pharma Jamaica Limited earned gross sales of J$570 million, versus J$ 487 million in the prior year (six months) for the period 2022-23, an increment of 17.17%.

❖ Gross Profit for the period recorded J$398 million in comparison to J$ 339 million, which represents a 17.38% increase (J$59 million) in comparison to the prior year.
❖ Net Income recorded is a 51.31% increase (J$45 million) in the current six-month period, compared to the prior year.
❖ Earnings per share recorded an increase of 51.31% in the current six-month period, in comparison to the prior year.

Total assets valued as of 30th April 2024 were J$ 2.35 billion compared to J$ 2.24 billion as of Q2 for the period 2022-23, an increase in value of 4.64% recorded.

Shareholder equity was recorded at a value of J$ 1.35 billion in the Q2 2023-24 period compared to the J$1.095 billion as at Q2 2022-23, an increase of 23.52%.

Total liabilities were recorded in the current year Q2 2023-24 with a value of J$ 0.997 billion compared to Q2 2022-23 of J$ 1.15 billion.

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