Limners and Bards eyes J-one billion $ in revenues, looks to eastern Caribbean for expansion

 




Listed on the Junior Market of the Jamaica Stock Exchange (JSE) in July 2019, Limners and Bards Limited (the LAB) an advertising and content production company indicates that it is laying the groundwork for expansion eastwards to other Caribbean islands. The Company is also deepening content development based on Jamaican themes which it indicates are in demand.

The company's latest financial report indicates that research is ongoing for Guyana, Barbados, and Trinidad & Tobago as potential areas for future expansion.

Company Chairman Steven Gooden and CEO Kimala Bennett indicated in a new report released on January 2, 2025, that the company is now putting into effect regional expansion plans and also working on becoming “a leader in content development.”

Investments are continuing in this area. “We maintained a strong balance sheet, with an improved cash position over the period. We reinvested in the business, upgrading film studio facilities to leverage technologies to drive continuous improvement,” directors outlined.

For the year ended, the LAB reported total assets increasing by $100.8 million or 11.0 per cent to $1.01 billion compared to $917.5 million in the corresponding period, an increase driven by building and film studio facilities improvement and purchases of new production equipment to facilitate future growth," management said. Cash and cash equivalent increased by $32.4 million over the corresponding period last year. 

Directors stating that there was an increasing demand for authentic Jamaican stories, outlined that the global content market projected to exceed $500 billion by 2030, and “The LAB intends to be well-positioned to capitalise on this expanding industry.”

The 2024 to 2025 slate of content projects includes Jenna in Law, Love Offside, Midnight Rhymes, and Spices of Christmas, which is scheduled to begin production early next year for a holiday release in 2025. *Love Offside*, currently in the final stages of post-production, is set for release in summer 2025, with marketing initiatives beginning in February, management stated.

Directors said that the company is pursuing a comprehensive global distribution strategy that includes theatrical releases, international licensing agreements, and streaming platform partnerships.

The LAB saw at year end net profit of $82.9 million, a 44.7 per cent increase over the comparable period. This growth was driven by the Agency Segment of the business.

Revenue for the year ended October 31, 2024, was $958.1 million, down 14.8 per cent relative to the prior period. This decline was primarily attributable to a reduction in Media revenue during the period.

Limners and Bards Limited engages in the production, media and content, and advertising agency activities in Jamaica and internationally. The company was formerly known as The Production Lab Limited and changed its name in April 2014.

Revenues were down for the year but management notes that, notwithstanding this, the Agency segment outperformed the comparable period.

The revenue achieved was derived from the company’s core business lines: Media totaling $492.7 million, followed by Production with $249.0 million and Agency with $216.4 million. Gross Profit for the year was $355.2 million, down 8.6 per cent when compared to the corresponding period.

Administrative, selling and distribution expenses decreased by $57.5 million or 17 per cent% in comparison to the corresponding period last year. These decreases are primarily due to reduction in contractor and staff cost.

Shareholders’ equity grew to $638.5 million, up from $597.5 million or 6.8 per cent over the corresponding period last year.


Photo caption: Kimala Bennett

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