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Caribbean Market Update

Ciboney Q3 Net Swings to Loss, The Gleaner Net Profit Declines

Author: Mukesh Buch
Last Update: 7:34 AM ET April 12 2014

Ciboney Group Limited, the Jamaica-based tourism company said interest income in the third-quarter ending in February tumbled 7% to J$80 million from J$276 million a year ago period. Net in the quarter swung to a loss of J$1.59 million or 28 cents per share compared to net profit J$205 million or 4 cents per share in the year ago earlier.

The Gleaner Company Limited, the Jamaica-based print media company stated revenue in the year ending in December were nearly flat at J$3.19 billion from a year ago period. Net profit in the year declined 35.7% to J$85.8 million or J$7.09 per share compared to J$133.5 million or J$11.49 per share in the year ago earlier.