Operating leases and rental income spike earnings for Eppley

 

 




Eppley Limited earned $0.87 per share for the first three months of 2025, generating a 27 per cent return for shareholders.

Total profit after tax for the quarter was J$247 million, compared to J$83 million in the same period last year; an increase of circa 198 per cent. Profits attributable to Eppley shareholders, net of minority interests, was $167 million.

The company indicates that its proprietary investment portfolio continues to expand, underpinned by a strong transaction pipeline and capital deployment.

As at March 2025, Eppley  managed a $12 billion portfolio comprising cash, loans, leases, receivables, and investments across our mezzanine, real estate, infrastructure, and asset management joint ventures, subsidiaries, and associates.

The company also manages and administers over US$144 million of capital, primarily through the Eppley Caribbean Property Fund, Caribbean Mezzanine Fund, and Capital Infrastructure Group.

These activities generated $134 million in fee income during the first quarter of 2025.

 At the end of the quarter, our leverage was .87 times capital, and average cost of debt was 8.50 per cent. The company  closed the quarter with $1.6 billion of cash.

 Gross Investment Income for the first quarter totaled J$400.4 million, reflecting a year-over year increase. This growth was driven by higher loan and lease income, a larger lease portfolio, and increased operating lease and rental income following the consolidation of ECPF in 2024.

Net Investment Income stood at J$233 million, up from J$191 million in Q1 2024, despite higher interest expenses of J$167 million, compared to J$83 million last year. The increase reflects both higher funding costs and the full quarter’s impact of consolidated debt expenses from the Value Fund.

The Board of Directors approved a dividend of $0.102 per share payable on June 13, 2025, to ordinary shareholders on record as of March 30, 2025.

Management noted, “While the exceptional gains recorded in 2024 are unlikely to recur, we believe Eppley is well positioned to deliver strong and sustainable returns to shareholders, supported by a high-quality portfolio, prudent risk management, and a clear strategic direction.”

 

Caribbean Money Daily

Comments

Post a Comment

Popular posts from this blog

Kintyre makes US$300,000 investment in Sevens Ice

Image
  Tyrone Wilson Chairman, President and CEO Kintyre Holdings (JA) Limited (KHL) and Seven Kingston Limited, owners of the Seven Ultra Lounge and Restaurant, on January 14 announced a joint venture to launch Sevens Ice. Kintyre Holdings has made an investment in excess of US$300,000 in acquiring an associate stake in Seven and also establishing the start-up for the ice venture. "This initiative addresses Jamaica’s growing demand for high-quality ice, with operations set to begin in Q1 2025," Wilson stated. Additionally, the venture has acquired a cold storage facility to manage its start-up capacity and is exploring the importation of ice to bridge the gap between demand and supply, ensuring a consistent and reliable market presence. Distribution Expansion Wilson said that Sevens Ice has secured a distribution point in Kingston and is in the process of setting up another in St. Catherine to serve the western and central parts of the island. This expansion will ensure broade...
Read more

BCMG increases risk management oversight: Launches surveys-as-a -service

Image
Insurance brokers in Jamaica often send underwriters themselves to survey risks; however, they frequently do not have the technical knowledge required to produce the best results. BCMG Insurance Brokers Limited (BCMG) in response, introduced - in support of the wider brokerage industry - an updated surveys-as-a service product which has been embraced by the wider community as groundbreaking. Senior Risk Manager on the New Business Team of BCMG David Lazarus explains, “We saw where the technical details and in-depth knowledge of the intricacies of business operations were not always being taken into consideration. This was seen as an opportunity to expand into this space.” In 2020, Billy Craig Insurance Brokers and Maritime General Insurance Brokers, MGI, signed an agreement to merge their operations to form BCMG Insurance Brokers Limited. Following the union, the new company has been exploring options to expand the service capability of the brokerage and increase value for clients...
Read more

Wish List: University Hospital CEO seeks top-flight CFO for turnaround miracle

Image
  It's a puzzling end of year for the finance team at the University Hospital of the West Indies where, despite an ongoing plan to quadruple plant size and service centres for the teaching institution, its current state is one of insolvency, with CEO Fitzgerald Mitchell wishing for a new Chief Financial Officer with a touch of genius to help in turning things around. Medium term, the government is aiming to significantly update this, the Caribbean's premium medical hospital and teaching school. At last report, the price tag on the project was $4.9 billion. In the works are plans for a new 6-storey, 120,000 square feet medical facility, which will accommodate an additional 40 medical and surgical beds, improvements to outpatient or ambulatory surgery, lecture rooms, conference rooms, and upgrading of the cardiology hybrid interventional surgery room and the neonatal intensive care and administrative departments. However, the institution is currently struggling to become solvent ...
Read more