Jan 2006 Financial News

NCBJ releases first quarter results

Jan 27, 2006

Net Profits of JA$1.14 billion were reported for the first quarter ended December 31, 2005 by the National Commercial Bank Jamaica Limited. This represents a jump of 17.2% over the comparative period last year. The combination of an increase in Revenues, from JA$6.6 billion to JA$6.9 billion, and a marginal increase in Expenses boosted Operating Profits to a 20.2% increase from JA$1.2 billion to JA$1.5 billion year on year. Despite a drop in the contribution from Associated Companies, the Profits before Taxation reported a strong 18.7% increase. Overall the Group ended the first quarter with an encouraging 18% increase in EPS to JA$0.46 from JA$0.39. The Board of Directors announced an interim dividend of JA$0.13 per share payable on February 24, 2006. The shares would trade Ex-Dividend on February 8, 2006.