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News in Brief - Phillips' economic advisory council

Published:Sunday | April 8, 2012 | 12:00 AM
  • Phillips' economic advisory council

Finance Minister Dr Peter Phillips has picked his council of advisers, and the Cabinet signed off on his choices last week..

The three members are former Financial Secretary Colin Bullock, Shirley Tyndall and economist Dennis Morrison.

  • Jubilee cuts GHL profits in half

Guardian Holdings Limited reported annual profit of TT$246 million after a write-off of TT$210 million from its UK business Jubilee, which was sold during the year.

Otherwise GHL would have made TT$465 million at December 2011.

The insurance conglomerate made TT$425 million in 2010.

  • Revaluations fatten Pulse's returns

Fair value gains on investment property bolstered modelling agency Pulse Investments Limited's bottom line saving the company from recording a drop in net profit in its semi-annual financial earnings at the end of December 2011.

The Kingsley Cooper-led company grew operating revenue three per cent to J$58.7 million from J$56.9 million, but also grew revenue by 12 per cent to J$40 million, resulting in a decline in operating profit.

A J$24.9 million fair value appreciation on investment property pushed the company's net profit for the half year to J$42.7 million.

The gains also helped to grow Pulse's asset base from J$698 million to J$1 billion.

See full stories online at: www.jamaica-gleaner/gleaner/business/