Chairman Statement

Kingsley Cooper, Chairman

 

Pulse Investments Ltd’s overall revenues and profits before taxation for financial year ended June 30, 2018 were up 24.3% and 28.6% respectively.

These numbers are reflected in the company’s audited financial statement filed with the Jamaica Stock Exchange.

Revenues moved from $488m in 2017 to $608m in 2018. Profits before taxation were up to $345.2m from $268.4m in prior year.

It should be noted that a deferred taxation amount of $43.3m was charged to profits in the current year, as against a deferred tax gain of $8.4m in 2017.

After adjustments for deferred taxation and other comprehensive income, earnings per share were up 2 cents or 12%, moving from 17 cents at the end of June 2017 to 19 cents at June 30, 2018.

Income was up across the company’s lines of business, with the greatest percentage gains recorded for model agency commissions (31.4%) and rental income (25%). Model agency receipts moved from $27.2m in 2017 to $42.1m in 2018.

Rental income moved from $47.6m in prior year to $59.5m in current year. With the continued success of Alicia Burke and other Pulse stars such as Jeneil Williams, as well as a slew of new Pulse talent, revenues in this category of business are expected to continue to grow.

Alicia Burke recently became one of the top 50 highest earners in world modeling and Pulse’s new Schools Model Search has already produced several potential international stars.

As the Pulse accommodation units come on stream in the 2018-19 financial year, additional revenues will be realized from the property rental business line.

 

Kingsley Cooper, C.D., Chairman

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