Pule Investments Ltd increased its profits were year ended June 30, 2015 My 25.7% up to $2 19.5m from $174.6m in prior year. Revenues increased by 21.6% to $433.2m, Up from $356m in 2014. Earnings per share was 74c, compared to 59c in the year ended June 30, 2014.
The company also completed 9000 sq ft of function space at Villa Renai, inclusive of furnishings, with works and fittings valued in excess of $108m. The space, completed over the past two and a half years, consists of two lounges, meeting rooms and other function areas.
Revenues grew across the board with cash and kind sponsorship up by $54.6m or 54%. Rental income increased to what is $48.6 million up by 23% from $39.1m in 2014. model agency income was up 24.6% over prior year, with new revenues coming from Europe to reflect the new international models now placed in those markets, as well as the continued success of established stars.
cash provided from operating activities was $20.1m in prior year.
The value of investment properties also grew by $111.6m to $1.2b, over the previous year reflecting both fair value appreciation as well as new construction effected in the current year.
Bank debt reduced to the teens for the first time since the early 1990s, now standing at $19.7m, down from $22.2m at the end of the prior year. In the mid 1900s, Pulse bank debt was in excess of $300m.
The Board of Directors are pleased with the company’s continued growth and development, even as the conditions in the local and, to a lesser extent, International economies remain difficult. pulse remains optimistic for the future and looks forward to the further strengthening of its businesses and the introduction of the key new products, some of which will be announced in the near future.
Corporate Social Responsibility Statement
At pulse, we are committed to being both financially successful and a responsible company, as we recognize that or long term success dependent on creating value for all who have a stake in the organization.
Governance – through or board of directors, we continue to develop clear mandates, policies and processes, along with ensuring that we are in compliance with all national and regulatory bodies to which we relate.
Employees and Contractors – are the vehicle for us to fulfill our mission due to their dedication and commitment to the organization. We are committed to providing safe and supportive environments for their growth and development and to their personal and professional success.
Clients- and our potential clients – are the reason we exist. Our commitment is to treat each and every one with respect, to support their aspirations and represent their interests to maximize their opportunities at all the times. We are also committed to ensuring that the young people in Jamaica see the industry, in which we operate, as a means to achieving their goals and aspirations.
Society – there are many ways in which we demonstrate our commitment to the society – by operating in environmentally friendly ways, minimizing our carbon footprint, recycling, encouraging staff volunteerism and educating the public on aspects of the industry. Our largest area of contributions is made through our commitment to positive and holistic youth development through the employment and development of the young people who are able to be financially secure, serve as role models on their communities and offer hope to future generations of Jamaican youth.