Corporate Jamaica feels the squeeze -... -
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Published on: 5/24/2006
Last Visited: 5/24/2006
Shane Ingram, financial analyst at Dehring, Bunting & Golding, says that "the tight trading conditions, especially with low interest rates" slowed the profit growth among financial firms.
"For what I call the hybrid banks - PCFS, JMMB, DB&G, CCMB - we found that interest margins were flat again," said Ingram in explaining the numbers to the Business Observer on Monday.
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"NCB's performance was well, but it was inflated somewhat by the Dyoll effect," cautioned Ingram.
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Ingram sees Life of Jamaica (LOJ), Pan Jamaican Investment (Pan Jam) and First Jamaica Investments (FJI) as being the winners during the quarter.
"LOJ, Pan Jam and First Jamaica group were the winners," he told the Business Observer.
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Said Ingram: "Overall, even though these companies came out with good results, if there is not positive all-around performance, then you find that the good results are drowned by the bad ones, and some companies are the benchmark for what is going to happen in the overall market."
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