Barita doubles profit in dominant first quarter jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.
Supreme Ventures chairman Gary Peart
Supreme Ventures Limited indicates that cash holdings, which have almost doubled year-over-year, will be used to support the company’s acquisition goals.
The group generated positive cash flows from operations of $3.67 billion to close December 31, 2020, with a balance of $6.26 billion representing an increase of 74.13 per cent over the prior year.
In addition to cash provided by normal operations, the group increased third-party loans by $3.50 billion, primarily to assist in the funding of acquisitions.
With its financial year closed on December 31, 2020, SVL reported net profits of $2.42 billion, representing a decline of $52.69 million (two per cent less) over the prior year.
Supreme Ventures rebounds from COVID-19 to post record-breaking fourth-quarter profits jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.