Desnoes & Geddes Ltd. (D&G) announced a solid performance for its 2008/2009 fiscal year through June. D&G, the maker of the world-famous Red Stripe Beer, said its results were boosted by significant growth in export volumes, higher prices and the devaluation of the Jamaican dollar against the United States’ currency.
D&G’s continued focus on cost efficiency, especially with regard to market cost, augmented profits. Earnings per share (EPS) grew 48.8% to J$0.55 from J$0.37 for the year, with J$0.16 earned in the fourth quarter.
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Desnoes & Geddes Ltd. (D&G) yesterday posted a 29.1% jump in earnings to J$ 0.39 per share for the nine month period ended march 31, 2009, up from 0.30 per share. Despite an increase in cost of sales and general, selling & administration expenses, D&G was able to push up income overall. Overseas export volumes jumped 23% mainly due to a 26% rise in volumes to the U.S. as Red Stripe continues to outperform the premium imported beer category. D&G is currently trading 1.58 times book value, and has a return on equity of 19.34%.
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