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Businessuite 2017 Skin Index -By US$ Holdings – Caribbean

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Businessuite 2017 Skin Index -By US$ Holdings Caribbean
2017 Rank Executive Company Skin Holdings 2016 US$
1 Anthony N. Sabga ANSA Mc Al Limited 110,898,547 $1,168,573,955
2 Michael Lee Chin National Commercial Bank Jamaica Ltd. 1,615,291,544 $629,350,715
3 Anthony N. Sabga ANSA Merchant Bank Limited 72,929,056 $463,397,478
4 Lascelles Chin Lasco Distributors Limited 2,668,889,040 $146,619,401
5 Lascelles Chin Lasco Manufacturing Limited 3,247,122,250 $126,514,543
6 Stephen B Facey Pan-Jamaican Investment Trust 433,878,694 $94,666,901
7 Paul Facey Pan-Jamaican Investment Trust 433,878,694 $94,666,901
8 Christian Mouttet Agostini’s Limited 29,526,008 $81,921,818
9 Christian E. Mouttet Prestige Holdings Limited 42,685,422 $74,401,376
10 Arthur Lok Jack Guardian Holdings Limited 14,590,771 $29,246,740
11 Mark Hart Caribbean Producers Ja Ltd 880,000,000 $22,629,159
12 Marcus James Access Financial Services Limited 120,220,534 $20,609,770
13 Christopher Berry Mayberry Investments Ltd. 470,222,514 $20,152,917
14 Konrad Berry Mayberry Investments Ltd. 465,985,397 $19,971,321
15 Lascelles Chin Lasco Financial Services Limited 761,704,332 $18,459,444
16 Robert Levy Jamaica Broilers Group 152,376,620 $17,691,979
17 A. Norman Sabga ANSA Mc Al Limited 1,649,453 $17,380,821
18 Rita Humphries-Lewin Barita Investments 339,975,664 $15,895,379
19 Ian Kent Levy Supreme Ventures 324,541,171 $13,403,477
20 Keith P. Duncan JMMB Group Ltd 101,144,376 $11,428,298
21  R. Geoffrey Cave, Cave Shepherd & Company Limited 5,858,534 $10,252,435
22 Donna Duncan-Scott JMMB Group Ltd 87,013,712 $9,831,675
23 Noel A. Lyon JMMB Group Ltd 84,061,652 $9,498,122
24 Patrick Hylton National Commercial Bank Jamaica Ltd. 18,799,058 $7,324,499
25 Wilfred Espinet Trinidad Cement Limited 10,285,195 $7,170,904
26 Scoops Un-Limited Limited Caribbean Cream Limited 121,141,801 $7,079,900
27 Paul Hoo Supreme Ventures 170,000,000 $7,020,962
28 Douglas R. Orane Gracekennedy Ltd. 21,358,272 $6,823,729
29 Dahru Tanner Blue Power Group Limited 28,300,800 $6,615,943
30 Derrick Cotterll Caribbean Flavours & Fragrances Ltd 67,457,330 $6,307,862
31 John W. Lee 138 Student Living Jamaica Limited 167,439,627 $6,262,840
32 Antonia Hugh AMG Packaging & Paper Co Ltd 32,351,718 $6,178,918
33 Richard Byles Sagicor Group Jamaica Limited 25,617,515 $5,789,043
34 Andrew Jackson Jetcon Corporation Limited 117,302,400 $5,484,411
35 Donovan Lewis Salada Foods Jamaica 81,447,767 $5,394,732
36 Stafford Burrowes Dolphin Cove Limited 45,367,938 $5,302,884
37 Oliver Townsend Knutsford Express Limited 33,526,664 $5,225,070
38 Derrick Cotterll Derrimon Trading Company Ltd 110,000,000 $4,714,408
39 Kingsley Cooper Pulse Invesments Ltd. 198,344,919 $4,636,755
40 George Hugh AMG Packaging & Paper Co Ltd 24,263,792 $4,634,190
41 Mark Chin/Paul Chin AMG Packaging & Paper Co Ltd 24,263,792 $4,634,190
42 Violet Helen Mahfood Jamaican Teas Limited 118,015,318 $4,460,175
43 Peter Bunting Proven Investments Limited 30,087,130 $4,337,348
44 Wayne Sutherland JMMB Group Ltd 38,050,860 $4,299,365
45 Oliver Clarke 1834 Investments Limited 434,557,600 $4,063,501
46 Anthony Copeland Knutsford Express Limited 23,926,664 $3,728,928
47 Dennis Smith (Gencorp Limited) ISP Finance Services Limited 54,517,500 $3,610,993
48 John Mahfood Jamaican Teas Limited 94,064,178 $3,554,985
49 Donald G. Wehby Gracekennedy Ltd. 10,929,855 $3,491,966
50 Carol Clarke Webster Caribbean Cream Limited 58,521,764 $3,420,192
51 Matthew G. Clarke Caribbean Cream Limited 58,221,764 $3,402,659
52 Christpher Clarke Caribbean Cream Limited 53,221,764 $3,110,444
53 Robert Chung (Sunfisher Corp) ISP Finance Services Limited 45,832,500 $3,035,738
54 Hugh Graham Paramount Trading (Jamaica) Ltd 123,396,684 $2,884,673
55 Donovan Perkins Sagicor Group Jamaica Limited 12,207,687 $2,758,692
56 Anthony Chang Consolidated Bakeries (Jamaica) Ltd 155,675,286 $2,741,574
57 Gordon Townsend Knutsford Express Limited 17,526,664 $2,731,499
58 Steven Marston CAC 2000 Limited 67,462,522 $2,602,193
59 William Putnam Goddard Enterprises Limited 502,027 $2,261,632
60 Anthony J. Agostini Agostini’s Limited 746,685 $2,071,726
61 Ivan Carter Sagicor Group Jamaica Limited 9,076,673 $2,051,146
62 Christopher Levy Jamaica Broilers Group 16,844,106 $1,955,717
63 David B. Sabga ANSA Mc Al Limited 172,404 $1,816,677
63 Natalia Gobin-Gunter Key Insurance Company Limited 88,405,445 $1,791,118
64 Sandra Masterton Key Insurance Company Limited 88,405,444 $1,791,118
65 Kayla Abrahams Key Insurance Company Limited 88,405,444 $1,791,118
66 Richard Evan Thwaites IronRock Insurance Company Limited 56,000,000 $1,745,500
67 Dodrige Miller Sagicor Financial Corporation 1,707,967 $1,716,507
68 Monique Cotterll Derrimon Trading Company Ltd 40,000,000 $1,714,330
69 Michelle Chong Honey Bun (1982) Limited 37,500,000 $1,709,460
70 Herbert Chong Honey Bun (1982) Limited 37,500,000 $1,709,460
71 Edward Charles Alexander tTech Limited 41,284,834 $1,705,054
72 William A. McConnell IronRock Insurance Company Limited 54,500,000 $1,698,745
73 Winston Boothe Medical Disposables & Supplies Ltd 50,000,000 $1,636,406
74 Myrtis Boothe Medical Disposables & Supplies Ltd 50,000,000 $1,636,406
75 Kurt Boothe Medical Disposables & Supplies Ltd 50,000,000 $1,636,406
76 Nikeisha Boothe Medical Disposables & Supplies Ltd 50,000,000 $1,636,406
77 Charles Graham Palace Amusement 1,074,444 $1,632,639
78 Antony Hart Cargo Handlers Limited 11,324,264 $1,632,501
79 Mark Hart Cargo Handlers Limited 10,991,198 $1,584,487
80 Jane Fray Cargo Handlers Limited 10,991,198 $1,584,487
81 Gary Peart Mayberry Investments Ltd. 34,740,915 $1,488,935
82 Winston Hepburn Proven Investments Limited 10,200,000 $1,470,428
83 Elliot Gervase Warner Massy Holdings Limited 161,588 $1,331,439
84 Andrew N. Sabga ANSA Mc Al Limited 122,858 $1,294,595
85 Peter Ganteaume Guardian Holdings Limited 645,000 $1,292,882
86 Charles. H. Johnston Jamaica Producers Group 17,510,498 $1,262,153
87 Neville James Access Financial Services Limited 7,174,950 $1,230,023
88 Parasram Heerah Trinidad Cement Limited 1,735,277 $1,209,846
89 M. McG. Hall Jamaica Producers Group 16,769,284 $1,208,727
90 Paula Rajkumarsingh Massy Holdings Limited 145,017 $1,194,898
91 Colin Roberts CAC 2000 Limited 27,355,291 $1,055,160
92 Nicholas Scott Eppley Limited 156,849 $898,340
93 Joseph Matalon 1834 Investments Limited 93,628,124 $875,506
94 Eileen Chin Lasco Distributors Limited 15,006,740 $824,418
95 Nigel Clarke Eppley Limited 142,631 $816,908
96 Garfield H Sinclair Proven Investments Limited 5,505,218 $793,630
97 Melanie Subratie Eppley Limited 136,020 $779,044
98 P.B. Scott Eppley Limited 136,020 $779,044
99 Peter Chin Lasco Distributors Limited 14,000,000 $769,111
100 Jinda Maharaj Trinidad Cement Limited 1,071,532 $747,079
101 Charles Herbert Goddard Enterprises Limited 159,097 $716,732
102 Angela Hamel-Smith Massy Holdings Limited 82,296 $678,095
103 Ian C. Kelly Derrimon Trading Company Ltd 15,743,459 $674,737
104 Frank A. R. James Gracekennedy Ltd. 2,010,153 $642,221
105 Norman Abraham Chen tTech Limited 15,391,566 $635,668
106 Christopher Reckord tTech Limited 15,263,795 $630,391
107 Eileen Chin Lasco Manufacturing Limited 16,000,000 $623,393
108 Rohan Miller Sagicor Group Jamaica Limited 2,595,465 $586,523
109 Douglas Stibel 138 Student Living Jamaica Limited 15,673,025 $586,227
110 Fé Lopez-Collymore Guardian Holdings Limited 291,913 $585,130
111 Philip Armstrong Sagicor Group Jamaica Limited 2,547,982 $575,793
112 Winston Thomas Derrimon Trading Company Ltd 13,363,979 $572,757
113 Ranjit R Jeewan The West Indian Tobacco Company Limited 28,000 $563,203
114 R. M. Cave Cave Shepherd & Company Limited 320,235 $560,411
115 Mark Chisholm Sagicor Group Jamaica Limited 2,391,853 $540,511
116 Brent Ford Guardian Holdings Limited 268,417 $538,033
117 John Lum Young One Caribbean Media Limited 170,500 $537,633
118 Peta Rose Hall Barita Investor only 11,188,814 $523,127
119 Michael Ranglin Gracekennedy Ltd. 1,568,097 $500,989
120 Richard Byles Sagicor Real Estate X Fund 5,389,505 $495,987
121 Ivan Berry C2W Music Limited 180,000,000 $490,922
122 Claudette Cook Jamaica Broilers Group 4,060,899 $471,498
123 Henry Graham Sweet Rier Abattoir & Supplis Company 15,035,009 $452,234
124 Mrs. K.A.J. Moss Jamaica Producers Group 6,060,078 $436,809
125 Richard Kellman Sagicor Financial Corporation 421,576 $423,684
126 Ryan Mack Gracekennedy Ltd. 1,202,460 $384,173
127 Ian Parsard Jamaica Broilers Group 3,207,739 $372,441
128 Hugh O’Brian Allen tTech Limited 8,806,028 $363,687
129 Joseph Bogdanovich KLE Group Limited 23,168,835 $352,055
130 Garfield H Sinclair Kingston Properties Limited 4,164,407 $324,508
131  Jeffrey. McG. Hall Jamaica Producers Group 4,418,537 $318,487
132 Nigel M. Baptiste Republic Financial Holdings Limited 17,070 $293,313
133 Jean-Pierre S du Coudray The West Indian Tobacco Company Limited 14,219 $286,007
134 John Minott Barita Investments 5,885,322 $275,165
135 J. A. Lester Spaulding Radio Jamaica 26,607,207 $269,535
136 Karl Lewin Barita Investments 5,675,322 $265,347
137 Richard Espinet Guardian Holdings Limited 124,758 $250,073
138 George W. Cooper Barita Investments 5,302,322 $247,907
139 Gary Matalon KLE Group Limited 16,073,628 $244,242
140 Angela Sobrian Prestige Holdings Limited 136,512 $237,943
141 Ravi Tewari Guardian Holdings Limited 116,044 $232,607
142 Charles Ross Sterling Investments Limited 1,892,790 $231,566
143 Robert Bermudez Massy Holdings Limited 27,849 $229,468
144 Aneal Maharaj ANSA Mc Al Limited 21,202 $223,412
145 Derek Wilkie C2W Music Limited 80,000,000 $218,187
146 Peter Chin Lasco Manufacturing Limited 5,585,980 $217,641
147 Ian C. Kelly Caribbean Flavours & Fragrances Ltd 2,322,814 $217,204
148 Gordon V. Shirley Gracekennedy Ltd. 612,092 $195,557
149 Charles R. Pashley Prestige Holdings Limited 110,000 $191,732
150 A. Alex Balogun Lasco Distributors Limited 3,429,733 $188,417
151 Jacinth Hall-Tracey Lasco Financial Services Limited 7,346,198 $178,031
152 Parasram Salickram Republic Financial Holdings Limited 10,183 $174,974
153 Anthony C. Subero Republic Financial Holdings Limited 9,294 $159,699
154 Stephen Shirley KLE Group Limited 10,111,500 $153,646
155 Valdence Gifford Sweet Rier Abattoir & Supplis Company 4,995,058 $150,245
156 Anthony Martins Prestige Holdings Limited 79,996 $139,434
157 Sharon Christopher First Citizens Bank Limited 23,227 $128,742
158 Rashidan Bolai One Caribbean Media Limited 40,000 $126,131
159 Marilyn Burrowes Dolphin Cove Limited 1,000,008 $116,887
160 Thersa Chin Cargo Handlers Limited 760,022 $109,564
161 Primrose Smith ISP Finance Services Limited 1,500,000 $99,353
162  John M. B. Williams Cave Shepherd & Company Limited 56,602 $99,054
163 Marcelle Smart tTech Limited 2,370,399 $97,897
164 Anand Ragbir Trinidad and Tobago NGL Limited 28,238 $93,964
165 Anthony Ali Goddard Enterprises Limited 18,141 $81,725
166 Ronald F. deC. Harford Republic Financial Holdings Limited 4,574 $78,595
167 Rajesh Rajkumarsingh Agostini’s Limited 28,230 $78,326
168 Anthony James Caribbean Flavours & Fragrances Ltd 820,700 $76,743
169 John Jackson Jetcon Corporation Limited 1,620,000 $75,742
170 Sharon Donaldson General Accident Insurance Co Ltd 3,377,956 $73,703
171 Radcliff Knibbs Paramount Trading (Jamaica) Ltd 3,053,605 $71,385
172 Patsy Latchman-Atterbury Scotia Group Jamaica 191,576 $54,862
173 Jacqueline Sharp Scotia Group Jamaica 190,010 $54,413
174 Grantley Stephenson Kingston Wharves 331,369 $51,669
175 Christopher Barnes 1834 Investments Limited 5,308,834 $49,642
176 Rohan Miller Sagicor Real Estate X Fund 500,000 $46,014
177 Richard Pandohie Seprod Limited 200,000 $45,975
178 Ingrid Innes Insurance Corporation of Barbados Limited 23,979 $45,081
179 Christopher Barnes Radio Jamaica 4,307,000 $43,630
180 Archibald Campbell JMMB Group Ltd 363,227 $41,041
181 Romae Gordon Pulse Invesments Ltd. 1,635,279 $38,228
182 Gerry C. Brooks Trinidad and Tobago NGL Limited 10,694 $35,585
183 Dennis Cohen National Commercial Bank Jamaica Ltd. 86,480 $33,694
184 Wayne N. Hardie IronRock Insurance Company Limited 1,025,727 $31,972
185 Andrew Jupiter Trinidad and Tobago NGL Limited 9,078 $30,208
186 Joseph Esau Agostini’s Limited 10,000 $27,746
187 Jason Julien First Citizens Bank Limited 5,000 $27,714
188 Anthony N. Sabga III Guardian Media Limited 9,035 $27,187
189 Safia Cooper Pulse Invesments Ltd. 1,079,422 $25,234
190 Garfield H Sinclair Cable and Wireless Jamaica – FLOW 4,021,000 $25,067
191 Stephen McNamara Sagicor Financial Corporation 23,993 $24,113
192 Reshard Mohammed Scotiabank Trinidad & Tobago Limited 2,076 $19,356
193 Goulbourne Alleyne, Insurance Corporation of Barbados Limited 7,985 $15,012
194 James Morrison Supreme Ventures 345,165 $14,255
195 Jerry Hospedales National Enterprises Limited 8,410 $14,192
196 Ian A Mcnaughton Barita Investments 296,000 $13,839
197 Richard Look Kin First Citizens Bank Limited 2,381 $13,197
198 Norman Russell Jamaican Teas Limited 300,000 $11,338
199 Douglas R. Orane 1834 Investments Limited 1,053,553 $9,852
200 Parasram Heerah Readymix (West Indies) Limited 5,645 $9,830
201 Roxane E. de Freitas Unilever Caribbean Limited 1,000 $9,482
202 Horace (Craig) Mair Scotia Group Jamaica 24,741 $7,085
203 Dawn Thomas One Caribbean Media Limited 2,000 $6,307
204 Anya M. Schnoor Scotiabank Trinidad & Tobago Limited 500 $4,662
205 Gary Allen Radio Jamaica 361,228 $3,659
206 Ross Alexander National Enterprises Limited 2,000 $3,375
207 Harold Ragbir PLIPDECO Limited 4,046 $2,372
208 Ernest Ashley Taylor PLIPDECO Limited 4,000 $2,345
209 Robin Levy Jamaica Stock Exchange Ltd 50,000 $2,143
210 Marlene Street Forrest Jamaica Stock Exchange Ltd 30,000 $1,286
211 Ian Dear Margaritaville Caribbean Limited 25,000 $1,068
212 Solmer Thom The West Indian Tobacco Company Limited 50 $1,006
213 Kevin Richards Kingston Properties Limited 10,500 $818
214 Lissant Mitchell Scotia Investments Jamaica 2,000 $521
215 Alejandro Vares Caribbean Cement Co. 300 $79
216 Mustafa Turra Berger Paints Ltd 0 $0
217 Marcus Steele Carreras Limited 0 $0
218 Dr. Rolph N.S. Balgobin Angostura Holdings Limited 0 $0
219 Robert Wong Angostura Holdings Limited 0 $0
220 Romesh Singh Angostura Holdings Limited 0 $0
221 Gregory N. Hill ANSA Merchant Bank Limited 0 $0
222 Trevor Edwards ANSA Merchant Bank Limited 0 $0
223 Directors’ Shareholding Berger Paints Trinidad Limited 0 $0
224 Senior Management Shareholding Berger Paints Trinidad Limited 0 $0
225 Karen Darbasie First Citizens Bank Limited 0 $0
226 Anthony Isidore Smart First Citizens Bank Limited 0 $0
227 Teresa White Guardian Media Limited 0 $0
228 Larry Jerome Guardian Media Limited 0 $0
229 Terrance Clarke National Enterprises Limited 0 $0
230 Faarees Hosein One Caribbean Media Limited 0 $0
231 Anthony Shaw One Caribbean Media Limited 0 $0
232 Ian R. H. Atherly PLIPDECO Limited 0 $0
233 Haroon Fyzool Awardy PLIPDECO Limited 0 $0
234 Malcolm Sooknanan Readymix (West Indies) Limited 0 $0
235 Nigel Edwards Readymix (West Indies) Limited 0 $0
236 Andres Peña Readymix (West Indies) Limited 0 $0
237 Tricia De La Rosa-Camacho Scotiabank Trinidad & Tobago Limited 0 $0
238 Brendan King Scotiabank Trinidad & Tobago Limited 0 $0
239 Anthony E Phillip The West Indian Tobacco Company Limited 0 $0
240 Sheldon K. Sylvester Trinidad and Tobago NGL Limited 0 $0
241 José Luis Seijo González Trinidad Cement Limited 0 $0
242 Pablo Garrido Unilever Caribbean Limited 0 $0
243 Lucy Walsh Unilever Caribbean Limited 0 $0
244 Mark Beepath Unilever Caribbean Limited 0 $0
245 Banks Holdings Limited 0 $0
246 BICO Industries Limited 0 $0
247 Cable & Wireless (Barbados) Limited 0 $0
248 Owned by Parent 91.67% First Caribbean International Bank Limited 0 $0
249 R. John Wight Insurance Corporation of Barbados Limited 0 $0
250 Christopher D. Bynoe West India Biscuit Company Limited 0 $0
251 Adrian Padmore West India Biscuit Company Limited 0 $0

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CAC 2000 Reporting A 41% Improvement In Net Income For Period Ending July 31, 2024.

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Gia Abraham Chief Executive Officer for CAC 2000 has released the following Unaudited Third Quarter results for period ending July 31, 2024

The Results:
Year -to-date we saw an increase of 18% in Sales for the period ending July 31, 2024, over the same period last year ($752,812,566 vs. $637,763,300), along with a 41% or $28,980,191 improvement in our net income. We continue to contain our overall operating expenses by 1.8% or $4,416,661 over the same period last year.

Whilst we are still experiencing longer shipment times due to the movement of manufacturing to China, we have been able to realize a reduction in our inventory days from 398 days to 300 days, in our debtor days from 225 to 206 days, as well as a decrease in our creditor days from 108 days to 77 days over the same period last year.

Retail Update
We continue to utilize our retail store located at 3U Village Plaza to improve the delivery of product offerings and services to our customers, while building the Team in Montego Bay, which is becoming the hub for the projects we are presently executing on that side of the island. As a company we are encouraged by this positive trajectory.

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PBS Expects 2024 Revenue, EBITDA And Profitability To Closely Align With Full Year Budgetary Expectations.

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Pedro M. París C. Director and Group CEO For Productive Business Solutions Limited Has Released The Following Unaudited Interim Report For Q1 2024

Q1 2024 Financial Performance Overview
In the first quarter of 2024, Productive Business Solutions (PBS) reported revenues of US$65.9 million, a decrease of US$21.6 million compared to the same period in 2023.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter was US$8.5 million, down from US$10.2 million in the first quarter of the previous year.

Additionally, our Profit After Tax (PAT) for the first quarter was US$0.4 million, as compared to US$1.7 million during the corresponding period in 2023.

Notably, our first quarter results in 2023 were impacted by a large transaction in which PBS provided laptops to the government in El Salvador. The transaction
produced a significant revenue contribution to PBS in that period but carried a lower than-average gross margin. As a result, PBS recorded higher gross profit in in Q1 2024 relative to Q1 2023 despite a reduction in revenue. PBS’ gross margin for the first quarter of 2024 improved to 35.5% from 26.5%, which is more representative of our business without the influence of any large, non-recurring sales.

Historically, the fourth quarter represents the strongest financial period for PBS, while the first quarter typically exhibits the lowest earnings. Our performance in Q1 2024 reflects this seasonal trend.

Strategic Acquisition Announcement
We are delighted to share a significant milestone in our company’s journey. During this quarter, we successfully initiated the strategic acquisition of Xerox operations in Ecuador and Peru and expect to close the transaction by the end of the second quarter of 2024. This acquisition is a testament to our commitment to expanding our market presence and enhancing our service offerings in the Latin American region.

The integration of Xerox operations in these key markets strengthens our capabilities in delivering expanded product/service and industry-leading solutions to a broader client base and offers a deeper Latin American footprint for our regional and global customers. We expect that this transaction will close in the coming months subject to regulatory approvals.

PBS expects to file its Audited Financial Statements for 2023 by June 30, 2024. The audit has been delayed as a result of accounting corrections which impact revenue, cost of goods sold, and contract assets primarily in periods before 2023.

Outlook

Our company’s pipeline of sales opportunities for the remainder of the year is strong.
We expect PBS’ 2024 revenue, EBITDA and profitability to closely align with our full year budgetary expectations.

PBS connects the largest enterprise software companies in the world to the leading firms and governments in our region. Our business is increasingly diversified by country, customer and supplier. Moreover, our growth reflects the enduring longterm trends of digital transformation to meet the needs of businesses and consumers. As we look ahead, we expect PBS to continue its trajectory of profitable growth.

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Main Event Entertainment Group Reporting 14% Drop In Nine Months Gross Profits

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Solomon Sharpe,  Chief Executive Officer for Main Event Entertainment Group Limited is reporting that the company recorded revenues of $440.064 million for the three months ended 31 July 2024 relative to the $428.056 million earned in the same period in 2023. This represents an increase of $12.007 million or 3% over the corresponding period of 2023. Despite the improvement in our year-over-year third quarter performance, the company saw a decrease of 10% to $1,426.391 million in its revenues year-to-date relative to the corresponding period in 2023 of $1.586.931 million.

Gross profit for the quarter was $205.678 million. Compared to the third quarter of 2023, this represents a decrease of $18.081 million or 8%; while for the nine months ended 31 July 2024, gross profits fell by $119.538 million or 14% to $719.565 million. Gross margins also fell for the quarter and the nine months results to 47% and 50% from 50% and 53%, respectively. The decline in gross margin is attributable to sales distribution with lower margins and maintenance exercises which were undertaken earlier in the year.

Despite the improvements in our third quarter results, the impact from the second quarter results continues to be shown in the year-to-date totals.

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Limners and Bards Make Big Bets On Management Of Talent And Content

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Kimala Bennett  Chief Executive Officer  for Limners and Bards Limited (The LAB) has released the following report to Shareholders of its unaudited financial statements for the nine months ended July 31, 2024, which have been prepared in accordance with International Financial Reporting Standards (IFRS).The consolidated results include the subsidiary Scope Caribbean Limited (Scope) whose principal business is the scouting, placement and management of talent while expanding and maintaining a database of quality talent.

The LAB achieved higher net profits compared to the corresponding period last year, with net profit reaching $83.5 million, a 46.7% increase over the comparable period. This growth was driven by our strong emphasis on the Agency Segment of the business for this quarter, as we continued to build brands. While revenues were down compared to the prior period, the company implemented cost containment measures, resulting in an 18% reduction in administrative expenses.

Shareholders’ equity grew to $681.4 million, up from $597.5 million or 14.0% over the corresponding period last year. We maintained a strong balance sheet, with an improved cash position over the period. Additionally, our asset base increased as we reinvested in the business, upgrading film studio facilities.

Revenue for the nine months ended July 31, 2024, was $752.7 million, down 17.6% relative to the prior period. This decline was primarily attributable to a reduction in Media during the period. Notwithstanding this, the Agency segment outperformed the comparable period. The revenue achieved was derived from the company’s core business lines: Media totalling $407.6 million, followed by Production with $190.5 million and Agency with $154.6 million.

Gross Profit for the nine months was $284.5 million, down 9.6% when compared to the corresponding period. Administrative expenses were also lower when compared to the comparable period. Administrative, selling and distribution expenses decreased by $47.5 million or 18% in comparison to the corresponding period last year. These decreases are primarily due to reduction in contractor and staff cost.

The consolidated Balance Sheet saw total assets increasing by $161.2 million or 17.1% to $1.1 Billion compared to $941.2 million in the corresponding period. This increase in assets is driven by building and film studio facilities improvement and purchases of new production equipment to facilitate future growth.

Current Assets amounted to $846.7 million, increasing by $59.9 million over the prior year.

Cash and cash equivalent increased by $25.5 million over the corresponding period last year. Management continues to maintain tight monitoring and control over receivables

Outlook
As the LAB continues to grow and diversify, our strategic initiatives are positioning us to capitalize on the booming global film industry and the increasing demand for fresh, international content.

We have successfully completed filming our first feature film, “Love Offside,” a sports romantic comedy that showcases the vibrant culture and dynamic talent of Jamaica. The film, features an impressive cast and has now entered the editing phase is slated for a February 2025 release, perfectly timed to meet the growing appetite for diverse and engaging content.

The global film market is experiencing a significant surge, with demand for international content at an all-time high. Industry reports indicate that streaming services and traditional distributors alike are increasingly seeking diverse narratives that resonate with a global audience. This trend presents a significant opportunity for the LAB, as “Love Offside” is poised to attract viewers with its unique storyline and cultural richness. Over the next 12 months, the Company plans to produce three films and three web series.

We are pleased to announce that our Chief Operations Officer (COO) and Head of Production, Tashara Lee Johnson, recently represented us at the MIP Africa Content Market in South Africa as a part of the Jamaican delegation organized by JAMPRO, a premier event in the global film industry. This market is a critical platform for forging connections, understanding market trends, and securing partnerships that will enhance our film’s reach and profitability.

In parallel, our agency arm is gearing up for our regional expansion strategy, where we will engage with various businesses and explore strategic partnerships across the Caribbean. Our goal is to solidify our presence in these markets, leveraging the region’s growing influence in the global media landscape.

Our commitment remains steadfast in delivering value to our shareholders by expanding our content portfolio, exploring new markets, and forging strategic alliances that will drive growth and profitability. The steps we are currently taking are designed to position the LAB at the forefront of a rapidly evolving industry, ensuring we capitalize on the opportunities presented by the global demand for fresh, compelling content.

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Trinidad and Tobago NGL’s Investment In Phoenix Park Gas Processors Delivers Robust Revenue and Profit Performance For Six Months Of 2024

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Dr. Joseph Ishmael Khan, Chairman Trinidad and Tobago NGL Limited has released the following Condensed Interim Financial Statements For The Six Months Ended 30 June 2024.

Trinidad and Tobago NGL Limited delivered a robust performance for the first half of 2024, posting a profit after tax of TT$46.7 million. This represents an outstanding turnaround from the corresponding 2023 period, where a loss of TT$2.8 million was recorded and signifies an impressive year-on-year improvement of TT$49.5 million.

Earnings per share reached TT$0.30, a substantial recovery from the loss per share of TT$0.02 for the same period in 2023.

The driving force behind TTNGL’s strong performance was the enhanced profitability of its investment in Phoenix Park Gas Processors Limited (PPGPL). This achievement was principally due to increased production of natural gas liquids (NGL), higher sales volumes, and improved NGL prices at Mont Belvieu.

Enhanced NGL production was facilitated by a 4.4% increase in natural gas volumes processed at Point Lisas in the first half of 2024 compared to 2023. Moreover, the gas stream’s NGL content saw a significant rise of 15.5% over the previous year, a result of deliberate efforts by The National Gas Company of Trinidad and Tobago Limited to enrich gas supplies. As a result, NGL production from gas processing increased notably, even when accounting for the extended plant downtime experienced in the first half of 2023.

Additionally, NGL volumes delivered from Atlantic LNG also increased by 3.2%, over the comparative period in 2023.

NGL prices rose by 11.5% compared to the same period in 2023, driven mainly by increased global demand and strategic positioning by market participants for future arbitrage opportunities.

The combination of higher NGL production and increased sales revenues, supported by improved NGL product prices, underscores PPGPL’s strong operational safety and its market leadership as the preferred NGL marketer locally and regionally.

Moreover, PPGPL has maintained high levels of operational efficiency within its processing plants, complemented by a strong commitment to safe operations and effective cost management.

During the first half of the year, Phoenix Park Trinidad and Tobago Energy Holdings Limited (PPTTEHL), PPGPL’s North American subsidiary, also delivered strong performance. PPTTEHL experienced significant trading volumes and benefited from improved margins on its sales contracts.
We anticipate continued earnings growth from this business segment moving forward.

TTNGL’s cash position at the end of June 2024 remained strong at TT$139.1 million, up from TT$113.0 million in 2023, reflecting the Company’s solid liquidity. TTNGL continues to explore all options to address its accumulated deficit and move towards a position where it can resume dividend distributions to shareholders.

Outlook
As we look ahead, we remain ever – optimistic about the positive price forecasts, while PPGPL continues to monitor market uncertainties and implement value-added strategies. PPGPL is unwavering in its commitment to strategic growth, prioritising the following: safe operations; high plant reliability and availability; meeting customer needs and sustaining market presence across all territories. These efforts are critical to delivering long-term shareholder value.

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