Jamaica Livestock Association records loss

22-04-2010 | |

Animal feed distributor, the Jamaica Livestock Association (JLA), recorded a $48.5 mln loss for its first-quarter ending February 2010, which was 15.6% worse than the same period in 2009, but the loss hides the company’s balance sheet improvement, reports state.

The trading loss was due to a reduction in revenues and also expenses, which led the association to record a loss in operations of $33.49 mln or 157% worse than the $13 mln loss from operations recorded as at February 2009.

Additionally, JLA continued to burn through its cash, which declined by $13.2 mln over 12 months to close the quarter at $4.9 mln versus $18.1 mln in the corresponding quarter in 2009, reports continue.

Source: Jamaica Observer

Natalie Kinsley Freelance journalist