Another company suffers from stronger dollar
Yet another listed company is blaming the strengthening of the Jamaican dollar for its disappointing results.
Barita Investments Limited says the revaluation of the local currency against the US dollar and euro contributed to foreign currency losses during the quarter ended June 30.
Declining interest rates also led to a fall in income.
As a result, during the April to June period, Barita suffered a $13.4 million loss.
During the corresponding quarter in 2009 it realised a $8.4 million profit.
http://rjrnewsonline.com/business/an...tronger-dollar
Yet another listed company is blaming the strengthening of the Jamaican dollar for its disappointing results.
Barita Investments Limited says the revaluation of the local currency against the US dollar and euro contributed to foreign currency losses during the quarter ended June 30.
Declining interest rates also led to a fall in income.
As a result, during the April to June period, Barita suffered a $13.4 million loss.
During the corresponding quarter in 2009 it realised a $8.4 million profit.
http://rjrnewsonline.com/business/an...tronger-dollar
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