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THE new year is here and as we move forward into it, the Jamaica Observer has compiled a list of 23 businesses to watch in 2023. Some are publicly held, others are not, but they all are companies . ....
Due to Indies Pharma Jamaica Limited’s second-quarter (February to April) revenue rising by 25 per cent to a record $250.58 million, its first six months performance moved up nine per cent to $462. ....
Vishnu Muppuri, Executive Director and COO of Indies Pharma Jamaica Limited, says a surge in the company’s liabilities is linked to its plans for growth in the new financial year. The company’s revenues for the period ended October 31, 2020, were J$765.9 million, up five per cent or J$36.5 million over the corresponding period in 2019. Net profit increased to J$199.1 million, an increase of 46.3 per cent over the previous year. However, long-term liabilities over the period surged to J$882 million, which Muppuri said was due mainly to the company securing a bond which was used to repay the loan of J$398 million used for the purchase of land for the construction of its new corporate office. ....