News

Berger climbing out of the red

BY SHAMILLE SCOTT Business Reporter

Wednesday, July 25, 2012 | 12:53 PM    

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KINGSTON, Jamaica — Dare Devil, Prince Charming and Miss Marigold are some of the colours Berger Paint Jamaica Limited has added to its line of products.

The new shades of red, blue and yellow, respectively, are among more than 10 that the company has introduced as its sales have expanded.

Berger announced its new palette along with its quarterly results, which showed a dramatic financial improvement, with losses falling to J$2 million from J$13.2 million in the same period last year.

Sales reached J$334 million in the three months to June 2012, up J$15 million over the same period last year.

Improved service levels were responsible for some of the improvement, said Warren McDonald, Berger's regional managing director.

However, the company is operating in a difficult economic environment, with Statistical Institute of Jamaica (Statin) reporting 0.1 per cent fall in GDP and a 5.6 per cent decline in construction during the March quarter, he said.

The “wait and see” attitude of other businesses, caused by delays in the IMF agreement, has led to investment deferrals, he said.

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