Sterling Investments is reporting lower first-quarter profits amid foreign exchange losses and weaker gains from investment sales.
The company posted net profit of $16.08 million, a decline of about 65.7 per cent compared to the year earlier.
Sterling says revenue totalled $23.2 million during the quarter, mainly due to unrealised foreign exchange losses caused by the appreciation of the Jamaican dollar.
Despite the decline in profit, Sterling says total expenses fell sharply by more than 67 per cent, while equity increased by 3.5 per cent.
The investment company says it remains optimistic that ongoing market volatility and global uncertainty will create attractive investment opportunities going forward.
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