The West Indian Tobacco Company Ltd (Witco) has reported a significant decline in its financial performance for the nine months ending September 30. The company’s profit before tax plummeted by 46% to $82.9 million, a stark drop from the $153 million recorded in the same period last year. Similarly, profit after tax fell to $66.9 million, down $47.7 million from 2024. Revenue also saw a 13% year-on-year decrease, dropping to $332 million from $382.9 million in the previous year. Witco attributed these declines to shifting consumer preferences towards lower-priced products and the persistent impact of illicit trade. Chairman Ingrid Lashley highlighted the company’s strategic adjustments, including the reintroduction of Du Maurier and the refresh of Rothman’s Classics, which have shown positive market responses. Despite these efforts, operating profit for the period stood at $81.4 million, compared to $150.6 million the year before. The company also announced an interim dividend of ten cents per ordinary share, payable on November 28. Lashley emphasized Witco’s commitment to long-term shareholder value, focusing on agility, cost discipline, and brand portfolio strengthening. However, the company continues to face challenges from illicit trade and macroeconomic pressures, with earnings per share dropping to $0.27 from $0.43 in 2024. Additionally, recent government measures imposing higher excise duties on tobacco products may further impact the company’s financial outlook.
作者: admin
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Forex $161.70 to one US dollar
In the latest financial update from Kingston, Jamaica, the US dollar demonstrated a notable rise against the Jamaican dollar on Tuesday, November 4. According to the Bank of Jamaica’s daily exchange trading summary, the US dollar concluded trading at $161.70, marking an increase of 32 cents from the previous session. This upward movement reflects a strengthening trend for the US currency in the local market. Concurrently, the Canadian dollar also saw a modest uptick, closing at $115.82 compared to its previous rate of $115.20. However, the British pound experienced a slight decline, ending the day at $211.80, down from $214.32. These fluctuations highlight the dynamic nature of global currency markets and their impact on regional economies. The Bank of Jamaica continues to monitor these trends closely, providing timely updates to ensure market transparency and stability.
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Flooding in Content, Manchester linked to rising groundwater levels — WRA
KINGSTON, Jamaica — The Water Resources Authority (WRA) has identified a significant rise in groundwater levels within the local aquifer system as the primary cause of the severe flooding currently affecting Content, Manchester. This phenomenon, known as a groundwater mound, occurs when water accumulates underground faster than it can naturally dissipate.
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Diaz hero and villain as Bayern beat PSG in Champions League showdown
In a high-stakes Champions League encounter, Bayern Munich extended their flawless season with a hard-fought 2-1 victory against Paris Saint-Germain (PSG) on Tuesday. The match, held at the Parc des Princes, was marked by standout performances, dramatic moments, and unfortunate injuries. Colombian forward Luis Diaz emerged as both the hero and the villain, scoring two crucial goals before being sent off for a reckless challenge on PSG’s Achraf Hakimi, who left the field in tears. Bayern’s resilience shone through as they defended their lead despite playing the entire second half with ten men. Joao Neves managed to pull one back for PSG, but the German giants held firm to secure the win. This victory cements Bayern’s dominance in the competition, with four consecutive wins in the Champions League and an unblemished record of 16 wins across all competitions this season. PSG, despite the setback, remains well-positioned to advance to the knockout stages. However, concerns over player fitness loom large, with Hakimi’s injury casting a shadow over Morocco’s upcoming Africa Cup of Nations campaign. PSG coach Luis Enrique acknowledged the challenges of managing player fitness amid a congested schedule. The match also saw Ballon d’Or winner Ousmane Dembele substituted early, raising further questions about PSG’s depth and readiness for upcoming fixtures. This clash, a rematch of the 2020 Champions League final, reaffirmed Bayern’s credentials as one of Europe’s elite teams while exposing vulnerabilities in PSG’s star-studded squad.
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Liverpool master Real Madrid on Alexander-Arnold’s return
Liverpool delivered a commanding performance at Anfield on Tuesday, securing a crucial 1-0 victory over Real Madrid and halting the Spanish giants’ flawless start to the Champions League campaign. Alexis Mac Allister’s decisive header proved to be the match-winner, though Madrid’s goalkeeper Thibaut Courtois played a pivotal role in keeping the scoreline respectable with a series of stunning saves. The win marked a potential turning point for Liverpool, who had struggled in recent weeks, losing six of their last eight matches across all competitions. Manager Arne Slot’s decision to revert to a more familiar lineup paid dividends, as the Reds showcased glimpses of the form that propelled them to Premier League glory last season. Captain Virgil van Dijk emphasized the importance of maintaining composure amidst challenges, stating, ‘In a world of chaos, you have to stay calm and see the perspective of things.’ Madrid, under the guidance of former Liverpool favorite Xabi Alonso, had suffered only two defeats in their previous 20 matches but were unable to break down a resolute Liverpool defense. Despite their star-studded attack, including Kylian Mbappe and Vinicius Junior, Madrid failed to score for the first time this season. The match also saw Trent Alexander-Arnold return to action after a hamstring injury, though he was met with a mixed reception from the home crowd. Liverpool’s defense, often criticized this season, held firm to secure their first Champions League clean sheet, offering hope for a resurgence in their campaign.
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Adequate fuel supplies in stock, says Minister Vaz
KINGSTON, Jamaica — The Jamaican government has reassured citizens that the nation’s fuel supply remains stable, urging the public to avoid panic-buying in the aftermath of Hurricane Melissa. Energy Minister Daryl Vaz addressed the media during a briefing at Jamaica House in Kingston, emphasizing that the Petrojam refinery, a critical fuel production facility, sustained no significant damage. To facilitate recovery efforts, the refinery has extended its operating hours until 6:00 pm, enabling the refueling of tanker trucks for distribution to western Jamaica, including areas severely impacted by the hurricane. Since October 30, over 400 tanker trucks have been dispatched to these regions. Minister Vaz stressed that the National Works Agency (NWA) is actively clearing roads to ensure uninterrupted fuel transportation. He reiterated, ‘There is no need to panic-buy or store excess fuel. We have adequate fuel.’ Additionally, Rubis, a major fuel retailer, has reopened 41 of its service stations across the island, representing 82% of its network. Seven stations remain closed, with the status of two yet to be confirmed. Rubis has also deployed staff and resources to reopen remaining stations and conduct maintenance in St James. The Rubis Westgate service station in St James is now operating 24 hours daily to meet demand, while Johnson’s petroleum network continues to function smoothly, delivering fuel island-wide. Minister Vaz also highlighted the sufficient supply of aviation fuel, with 75% to 80% capacity maintained at international airports. The government is collaborating with international partners, including the Grey Bull Rescue Foundation and the Fuel Relief Fund, to support energy fuel distribution for humanitarian efforts.
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NWC restores access to 65% of customer base
KINGSTON, Jamaica — The National Water Commission (NWC) has made substantial strides in restoring water access to 65% of its customer base following the devastation caused by Hurricane Melissa. The agency is now working tirelessly to increase this figure to 80% before the weekend, as confirmed by Matthew Samuda, Minister of Water, Environment, and Climate Change, during a media briefing at Jamaica House on Monday.
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Transport Authority warns public passenger vehicles against ‘exorbitant prices’
KINGSTON, Jamaica — In the aftermath of Hurricane Melissa, the Jamaican Transport Authority has issued a stern warning to public passenger vehicle (PPV) operators against the unlawful practice of hiking fares. The Category Five storm, which struck the island last Tuesday, has reportedly led to several operators exploiting the situation by overcharging commuters.
Ralston Smith, Managing Director of the Transport Authority, emphasized that such actions are not only illegal but also a blatant violation of commuters’ rights. Smith highlighted that demanding fares beyond the approved rates constitutes a breach of the Road Traffic Act, which could result in severe consequences, including the suspension or revocation of road licences.
“Under section 68 (1) of the Road Traffic Act, operators found guilty of overcharging passengers risk losing their licences,” Smith stated. The authority is also advising commuters to steer clear of unlicensed vehicles, which are often the primary culprits in charging exorbitant prices.
To assist in identifying legitimate transport services, the authority noted that licensed vehicles are marked with red licence plates and a light blue Transport Authority sticker on the windshield, valid until 2026.
The public is encouraged to report any instances of fare overcharging by calling (876) 926-8912 or sending WhatsApp messages to (876) 551-8196. Reports should include the vehicle’s licence plate number, route details, and any supporting photos or videos.
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WATCH: St Elizabeth police helping to connect residents with loved ones through Starlink
In the aftermath of Hurricane Melissa, the St Elizabeth police have launched a groundbreaking initiative to address connectivity challenges faced by residents in the Brompton community. Superintendent Coleridge Minto, head of the St Elizabeth police, revealed that mobile units equipped with Starlink devices are being deployed to restore communication for those cut off from their loved ones. The service is currently operational along the Brompton main road and has extended to areas such as Spring Park, Speculation, Black River, and Siloah/Maggotty. Minto emphasized that this effort transcends traditional law enforcement duties, focusing instead on providing essential support during a crisis. ‘Today’s initiative is not about operations, but intervention,’ he stated. Residents have expressed gratitude for the initiative, with Jamar Allen, a local, praising the police for their timely assistance. ‘Bless up to the police officer fi weh dem a do…Because [a lot] of persons stand up here for days cyah get to reach out to them family,’ he said. The Jamaica Constabulary Force (JCF) has been commended for its innovative approach, demonstrating its commitment to serving the public in unconventional yet impactful ways.
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Nintendo shares soar on new Switch target
TOKYO, Japan – Nintendo’s stock experienced a significant surge, climbing over 10% on Wednesday, following the company’s announcement of upgraded sales and profit forecasts for its highly anticipated Switch 2 console. The Japanese gaming powerhouse revealed plans to sell 19 million units of the Switch 2 in the current financial year, a notable increase from its earlier projection of 15 million units.
