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Eppley produces best profit on record
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.
Eppley produces best profit on record
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.
Eppley’s Managing Director Nicholas Scott.
Eppley Limited recently recorded the highest profits in its history, with net profits of $221 million in 2020, a more than 35 per cent increase over its profits in 2019.
Its total comprehensive income for the period was $267 million.
Eppley’s Managing Director Nicholas Scott remarked, “We are proud of Eppley’s results. Our earnings not only increased significantly but more importantly increased significantly in quality. Particularly in the context of the COVID-19 pandemic, this is testimony to the dedication of our team and strength of our strategy.”
Profit growth was driven by the expansion of Eppley’s asset management business. Eppley’s return on equity in 2020 was 22 per cent. The company also declared a record final dividend of $0.83 per share.
Five stocks made double-digit fluctuations during Tuesday’s trading on the Jamaica Stock Exchange (JSE).
Three of the five made gains led by tTech up 15 per cent to close at $4.90; 138 Student Living increased 14 per cent to $6.70; Eppley Limited gained 11 per cent to $27.99; Caribbean Flavours and Fragrances up nine per cent to $1.70; Access Financial increased 8.3 per cent to $22.36; JMMB Group preference shares increased 7.0 per cent to $1.60 and Salada Foods increased five per cent to $30.
On the losing side, Ciboney Group declined by 26 per cent to close at $0.17, followed by Eppley Caribbean Property Fund, down 16.4 per cent, and SSL Venture Capital down 11 per cent to $0.50.
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