Seasonal variations in revenue and project delays cause profit slide for Limners and Bards

 




For the six months ended April 2025, media and advertising company Limbers and Bards saw profit dip. Net profit for the six-month period stood at $20.6 million, a 58.3 per cent decline compared to the same period in the prior year.

The decrease was primarily attributable to lower gross margins and a reduction in second-quarter revenue which was largely due to seasonal variations and the timing of project deliveries. Operating expenses, comprising administrative, selling, and distribution costs, increased by $14.4 million or 10 percent compared to the same period last year.

For the period under review, Management said that the Group’s consolidated balance sheet remained sound with a stable cash position, providing the financial flexibility to support ongoing operations and strategic initiatives.

Revenue over the 6-month period of $460.2 million, represented a 3.3 per cent increase compared to the corresponding period in 2024.

This growth was driven primarily by increased activity in the Production and Media business segments. Media contributed $2440.7 million, followed by Production at $151.8 million, and Agency at $67.5 million.

Gross profit amounted to $175.4 million, reflecting a 2.7 per cent decline year-over-year. This was due to a higher proportion of revenue being derived from Media, which typically carries lower margins relative to the Agency segment. The shift in revenue mix also resulted in a 2 per cent decline in the company’s net profit margin.



Higher operational costs, Management stated, reflected strategic investments in talent, particularly in areas critical to growth such as business development, content creation, and enhancing the overall customer experience.

They said, “While these investments contributed to higher short-term costs, they are considered essential to scaling our operations and building long-term shareholder value.”

Total assets amounted to $1.03 billion, reflecting a decrease of $11.2 million or 1.1 percent, mainly attributable to normal depreciation. Current assets increased marginally to $865.9 million, up $1.6 million from the prior year.

Cash and cash equivalents stood at $332.4 million, down $226 million year-over-year, due primarily to increased investment in the development of proprietary content assets.



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