SAGICOR Group Jamaica increased first quarter earnings by 76 per cent over the corresponding period last year that was hit by two debt exchanges. Net profit for the period ending March 31, 2014 was $1.1 billion compared to $620.15 million over the same three months last year.
Last year’s bottom line was impacted by the company’s participation in the National Debt and Private Debt Exchanges (NDX and PDX respectively).
Total revenues for the period was $12.6 billion, 58 per cent higher than during the comparative period in 2013. The performance reflected significant improvements across all segments for the financial services group. Sagicor has a flagship insurance business, as well as investment and banking arms.
Published in the Jamaica Observer
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