Interesting to note that Almond Resort continues to struggle. Offering up to 45% discounts:
In 2009 they lost 3.9 million. IN 2010 13.7 million. first nine month in 2010 6.9 million first nine month in 2011 18.5 million . 2011 result probably won’t get any better. No wonder ansa looking for someone to take if off their hands. they just haemorrhaging money.
One would have though an all inclusive property would do well in the current environment.
thats only if they can get their cost down. the truth as the bta said last week arrival may be up but rooms are being sold so cheap they making any cash on them.their overheads are too high and can’t cut cost.
To anyone holding Almond what can we expect?
if buyer can be found. they would get a discounted price since almond need an overhaul across the board.
I expect some other player in the sector to acquire Neal and massey’s controlling interest at a decent price. That player would likely do a major restructuring, and I think there is scope for a turnaround givenm that its still has brand recognition and great locations..
@ Justin Robinson | November 22, 2011 at 9:43 PM |
Sounds like another sound investment for the NIS investment fund. Turnkey ready and ripe for the pickings!
Why not make this recommendation to the Board?
I don’t think the NIS is set up to be the majority owner of private enterprises. The NIS does have a significant position in Almond Shares from several years back.
@ Trained Economist | November 22, 2011 at 10:36 PM |
So if the NIS can’t take over the majority ownership are we looking at another write-down against the investment portfolio? Because there are no buyers out there, yet. Probably waiting for it to be boarded up like some properties on the South & West Coasts and then buy it over for a song.
Dr. Robinson, will you, or have one of your UWI colleagues from Economics, comment on the effectiveness of investing in shares as a hedge against the declining value of the US$/BDS$, given the possible correlation between the performance of the underlying corporations and those economic conditions underlying the decline in the value of the US$/BDS$.
can you clarify what you mean by the declining value of the US$/BDS$
Justin Robinson | November 23, 2011 at 8:51 AM | can you clarify what you mean by the declining value of the US$/BDS$
The US$ is expected to decline vs. other major currencies and the BDS$, being fixed to it, will experience a similar decline vs. non-US$ currencies.
Okay.
Local stocks typically provide most of their returns in the form of dividends, as stock price rarely move, thus not providing much in terms of capital gains. Those dividend returns are typically in the range of say 4 to 6%. The profits and dividends of most local firms are linked to the perfromance of the US and UK economies as well.
As such I would not expect domestic stocks to provide much of a hedge against such a decline in the dollar if it were in fact to occur.
The investment story of the year regionally has been the trremendous returns o junior market stocks in jamaica.
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