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Dolphin Cove’s Net Profits Jump 39% For Q1 2016

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Dolphin Cove Limited has reported a 39% increase in its Net profit for the first quarter of 2016 when compared to the same period last year.

According to the company’s unaudited financials for the period under review, net profit for the quarter ending March 31 was $185 million compared to $133.1 million last year.

Meanwhile, revenue increased by 11% due to what Chairman and CEO, Stafford Burrowes says was a 35% growth in ancillary revenue although the decline in ship arrivals had a marginally (2%) negative impact on Dolphin Attraction Revenue.

Gross profit increased by 14% as a result of the growth in revenue and a decline in direct cost of sales.

Burrowes says for 2016, Dolphin Cove will continue to expand its marketing efforts in anticipation of additional rooms that are expected to come on stream this year.

He says he also expects an increase in local sales following the recent opening of the Caymanas to Ocho Rios toll road.

Burrowes says he is of the belief that the local attraction’s financial resources remain strong and will facilitate plans to expand operations locally and in other Caribbean countries.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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