President & CEO of Sagicor Group, Christopher Zacca says he remains optimistic and pleased that the Jamaican economy is trending in the right direction though with modest growth.
The macroeconomic fundamentals he says, are in a good state as the government continues to focus on fiscal discipline.
This he says includes – a stable exchange rate, relatively low inflation, strong international reserves, declining interest rates and lower current account deficits.
Commenting on the company’s financial performance for the nine-month period ended September 30, he says Sagicor Group Jamaica continues to perform well.
Its consolidated assets on the Balance Sheet grew by 4-percent since September last year to reach just over 3-hundred and 63 billion dollars.
Net Profit for the nine-month period improved to just over $9-billion.
That’s 23-percent better than the over $7-billion recorded last year.
Total Revenue for the current period was over $53-billion, 18-percent more than last year.
Sagicor Group Jamaica closed the period with improved earnings per stock unit of $2.34 compared to $1.89 for last year.
And the return on average Stockholders’ Equity was 20-percent as against 19-percent in 2016.