We're sure the Chairman (PB Scott) and CEO (Richard Pandohie), will forgive us the slightly
facetious take on the Seprod Group's tagline ("Made by Seprod....Must be Good").
After all, the financial year ended Dec 31, 2018 was yet another banner period for the manufacturer/distributor, with both revenues (J$2.5 bn) and after-tax profits (J$1.1bn) surging over the previous period. Throw in a most recent stock price of J$52 per unit and a dividend of J$0.50 per unit, and the Annual General Meeting held today at the Jamaica Pegasus was surely a time for rejoicing for the company's shareholders (among are numbered some 200 employees).
Sure, well-meaning curmudgeon and small shareholder activist Orett Staple ran his usual playbook of Outstanding Receivables and Cost of revenues, but with the value of most shareholders' stakes doubling, he didn't have many followers with the time for his spiel.
There was the negative of the shuttering of Seprod's ill-fated foray into the sugar business, at Golden Grove in St Thomas but, having cut its losses in that segment, the company has every reason to anticipate an even healthier bottom line next year, what with its industry-leading grain mill going full steam , and with other innovations promised both on the production side and the brand side.