Business Report: Eppley Caribbean Property Fund Ltd. Portfolio Passes 1m Sq. Ft. Mark and More

Eppley Caribbean Property Fund Ltd. Portfolio Passes 1m Sq. Ft. Mark

Eppley Caribbean Property Fund Limited recently published its 2023 Annual Report, highlighting significant achievements. The Value Fund accomplished a major milestone by acquiring a real estate portfolio from JN Bank Limited in a sale and leaseback transaction. This portfolio includes 22 commercial offices and branches across Jamaica. Notably, the Value Fund’s portfolio now exceeds one million square feet, a remarkable achievement since its establishment. The comprehensive income for the financial year 2023 totaled $17.5 million, a substantial increase from the $9.5 million recorded in 2022. The fiscal year concluded with a robust capital base of $157.9 million, reflecting a noteworthy growth from the $132.7 million reported in the same period in 2022. The Fund maintains a cash reserve of $9.4 million and a conservative leverage of $35.6 million as of the end of the 2023 financial year.

Jamaican Teas Ltd. To Consolidate Manufacturing Operations In 2024

Jamaican Teas Limited (JAMT) disclosed its consolidated financial statements for the year ending September 30, 2023. As the Caribbean’s largest tea producer, JAMT reported a climb in operating revenue to $1.95 billion from $1.85 billion in 2022. Gross profit also increased to $456 million from $450 million, with net profit soaring from $168 million in 2022 to $242 million at the close of 2023. A strategic partnership formed with Wisynco Group Limited in November 2023, making them the exclusive distributor for Caribbean Dreams and Tetley Tea portfolios, is anticipated to boost domestic sales substantially. The company’s Chief Financial Officer, Cameron Burnet, provided insights into the year’s performance and the outlook for 2024.

Financial Market Highlights

Market Indices:

• JSE Main Market Index advanced by 2,125.48 points (0.65%) to close at 327,825.27.
• JSE Composite Index advanced by 1,130.72 points (0.31%) to close at 368,148.57.

Overall Market Activity:

• 62 stocks traded.
• 26 advanced, 27 declined, 9 traded firm.

Top Gainers:

• 138 Student Living Jamaica Limited Variable Preference (13.57%)
• Guardian Holdings Limited (11.87%)
• 138 Student Living Jamaica Limited (8.23%)
• Key Insurance Company Limited (8.07%)

Top Losers:

• Radio Jamaica Limited (-23.20%)
• Berger Paints Jamaica Ltd. (-11.36%)
• First Rock Real Estate Investments Limited (-11.30%)
• Kingston Properties Limited (-9.74%)

Market Volume:

• 11,588,245 units valued at over $66,472,610.38.

Volume Leaders:

• Sagicor Select Funds Limited – Financial with 3,145,685 units (27.15%)
• Transjamaican Highway Limited with 2,446,067 units (21.11%)
• Ciboney Group Limited with 1,975,895 units (17.05%)

BOJ Currency Trading Rates:

• US Dollar: Buy 153.58, Sell 154.95
• Great Britain Pound: Buy 190.98, Sell 197.48
• Canada Dollar: Buy 115.90, Sell 117.89
• Euro: Buy 171.53, Sell 173.14

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