Tue | Mar 26, 2019

Stories by Steven Jackson/Senior Business Reporter

Published:Wednesday | March 6, 2019 | 12:15 AMSteven Jackson/Senior Business Reporter

The Jamaica Stock Exchange (JSE) has suspended trading in the Sweet River stock but the loss-making meat ­company’s management said they ­expected to get it reinstated right away. The JSE suspended trading of SRA shares on March 4, because the ­...

Published:Sunday | February 3, 2019 | 12:25 AMSteven Jackson/Senior Business Reporter

Coffee processor Salada Foods Jamaica Limited is offloading its spice company, which sold compressed pimento leaves to flavour the fire for jerk meats but has been idle since 2017. Salada owns 70 per cent of Pimora Company Limited, whose net assets...

Published:Wednesday | January 30, 2019 | 12:21 AMSteven Jackson/Senior Business Reporter

Energy company New Fortress Energy LLC, whose liquefied natural gas holdings are largely deployed in Jamaica to date, plans to raise US$300 million from its initial public offering of shares covering 12 per cent of the company. The American gas...

Published:Wednesday | January 9, 2019 | 12:00 AMSteven Jackson/Senior Business Reporter

Jamaica-based NCB Financial Group (NCBFG) has indicated that its consolidated revenues with Trinidad-based Guardian Holding Limited (GHL) would surpass US$1.5 billion, or just under J$200 billion, provided GHL shareholders accept the offer now...

Published:Wednesday | January 2, 2019 | 12:00 AMSteven Jackson/Senior Business Reporter

Investment company Eppley Limited, which provides financing for businesses, has become the first company to transition from the junior market of the Jamaica Stock Exchange (JSE) to the main market in a move described as net positive.Eppley's...

Published:Wednesday | December 19, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Shares in Playa Hotels & Resorts rallied at the top of the week following an announcement by Playa to buy back its own shares...

Published:Wednesday | December 5, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Aphria Inc, a cannabis company based in Canada, is defending its purchase of regional assets, including operations in Jamaica, following claims by outside investors that the assets are largely hollow.The Jamaican operation, known as Marigold, is led...

Published:Wednesday | November 21, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Seeking to quell market fears, chairman of Sagicor Real Estate X Fund, Richard Byles, said the billion-dollar loss reported in the September quarter was not an indictment of the company's performance, but rather reflected a dip in the price of Playa...

Published:Wednesday | October 31, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Gary Matalon, CEO of the KLE Group, which operates the Tracks & Records restaurants co-branded with partner Usain Bolt, is more upbeat about the franchise, based on better than expected sales at the first foreign casual diner now operating in London...

Published:Wednesday | October 24, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Third-generation coffee farmer Lloyd Tomlinson is involved in a regional deal that sees his new marijuana company Marigold Limited being partially acquired by Aphria Limited of Canada, according to stock market filings.Marigold will set up five herb...

Published:Wednesday | October 17, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Local coffee exporters returned from Japan this month without any indication of pricing or deals from the large trading importers, which puts the US$25 million industry at a near standstill at least until Christmas.At the same time, the sector is...

Published:Wednesday | October 10, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

The maker of Tru-Juice, Trade Winds Citrus Limited, sold $3.3 billion worth of goods to exclusive distributor Wisynco Group, according to financial disclosures made by the latter company to the market.Trade Winds is now ramping up exports with a...

Published:Wednesday | October 3, 2018 | 12:03 AMSteven Jackson/Senior Business Reporter

Express Catering Limited, which operates various food franchises at Sangster International Airport, tripled its annual profit even without much help from the latest addition to its portfolio, that of Starbucks coffee.Express Catering has "...

Published:Wednesday | September 5, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

The new distribution deal that Derrimon Trading Company inked with SM Jaleel...

Published:Wednesday | August 8, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Sales of the Jamaica rum brands owned by Campari Group rose above €38 million ($6.1 billion) over six months ending June.Through J. Wray...

Published:Wednesday | August 8, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Total revenues at Jamaica's largest airport, Sangster International, increased six per cent to US$52 million over six months to June, based on an analysis of disclosures by controlling partner Grupo Aeroportuario del Pacifico (GAP). The intake...

Published:Wednesday | August 1, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Brokerage firm Mayberry Investments Limited reported quarterly profit after tax for June that was 63 times better than the comparative results for the prior year, due in part to restructuring of the company to book unrealised gains on the stocks it...

Published:Wednesday | July 18, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Ice cream maker Caribbean Cream Limited, which trades as Kremi, reported improved results for its first quarter ending May 2018, a period in which it also made a large investment in fixed assets, but did not disclose how the capital was deployed.The...

Published:Wednesday | July 11, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Pharmaceutical distributor Indies Pharma Jamaica Limited has launched a new division that sells supplements.The company will brand the line as Nature's Soul."It is a new division, a herbal division, which is a market that the world is going after -...

Published:Wednesday | July 4, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

The revived Stanley Motta Limited, developer of the 58 HWT technology park in Kingston, had no substantial income before last year when it reported rental income of $72 million.The company, however, reported a large profit of $853 million, nearly...

Published:Wednesday | June 13, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

C2W Music Limited, the start-up music publishing company that has racked up deficits more than hits, will outline the details of its rescue plan at an extraordinary general meeting scheduled for June 27.It will involve an unnamed outside entity...

Published:Wednesday | May 30, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Angella Rainford, a partner in Eight Rivers Energy Company, said she secured US$50 million in financing this month for Jamaica's largest solar plant.The loans were acquired through foreign institutions as local banks were unable to offer a...

Published:Wednesday | May 9, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Ivan Berry and Derek Wilke, two directors and primary shareholders of loss-making C2W Music Limited, will resign from the board but are not expected to walk away from the company, under the terms of a rescue plan that is still to be approved by...

Published:Wednesday | May 9, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

Ganja company Marigold Projects Jamaica Limited is signing on as a sponsor of the Peter Tosh museum at the Pulse commercial complex, and will also open a herb house at that venue.Marigold's herb house is expected to be operational by July, sources...

Published:Wednesday | May 2, 2018 | 12:00 AMSteven Jackson/Senior Business Reporter

J. Wray & Nephew Limited (JWN) forecasts that it can save about US$1 million or J$125 million a year by running its rum distillery at New Yarmouth Estate in Clarendon on liquefied natural gas...

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