Barrington Chisholm, chairman of AMG Packaging Ltd, indicates in the company’s just released annual report that AMG will be focusing on higher quality standards, product diversification and plant upgrades for the current year.
During the financial year ended on August 31, 2016, revenues fell for the company from $633 million the year before to $628 million, but net profit of $82.97 million was up 4.34 per cent on 2015 ($79.51 million).
Higher expenses and the “erratic” movement of the Jamaican dollar were mentioned as challenges during the year.
Continuing plant overhaul and new product lines are expected to improve on this performance. Chisholm indicates in the annual report that the company will invest in a major upgrade of its corrugator at the box plant within the first quarter of the financial year.
Published in the Observer
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