The JMMB Group has reported net profits of $3.74 billion on revenues of $25.2 billion for the financial year ending March 31 - a 6% increase over the previous year.
The company says this performance came despite challenges, including the high interest rate environment, the asset tax, which has cost JMMB some $9 billion since its introduction and $1.2 billion in the first quarter of the new financial year, as well as global economic uncertainty.
JMMB's financial statements indicate that the positive trend is expected to continue, with plans to increase dividend payments by 20% annually.
Group CEO Keith Duncan expressed confidence in the company's outlook, pointing to ongoing expansion in its banking, investment and real estate operations across Jamaica, Trinidad and Tobago, the Dominican Republic and Barbados.
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