Bermuda Press (Holdings) Ltd. announces twelve month results to September 30th 2016.

Hamilton, Bermuda – February 22, 2017 – In a filing with the Bermuda Stock Exchange Bermuda Press (Holdings) Limited (“BPHL”; Ticker: BPH.BH) announced twelve month results to September 30th 2016.  The filing reads:

The Bermuda Press (Holdings) Limited (BPHL) today reported 2016 consolidated net profit of $1,264,000 for the year ended 30 September 2016, a $750,000 increase compared with 2015.

Overall revenue decreased to $26,617,000 compared with $27,213,000 in the prior year, with the net profit improvement primarily related to significant cost savings as a result of consolidation in the print division’s operations.

The Company’s local real estate holdings remain the most profitable segment, with an overall occupancy rate of 98% in 2016, of which more than 60% is occupied by third party tenants.

Basic earnings per share increased to $0.58 from $0.02 in 2015. The market price for BPHL’s shares ended the year at $7.10 compared with $6.50 in 2015.  The Board was pleased to reinstate the dividend to shareholders on 31 March  2016 and during the 2016 fiscal year, dividends of $0.15 per share were declared.  The Board will continue to review the Company’s performance and the ability to increase dividend payments to shareholders. 

During 2016, some of the key areas of focus were: 

·         Introducing training programmes as part of the human resources strategy to obtain an Investors In People certification

·         Carefully reviewing the print operation’s financial performance and expanding the operations to include sign printing

·         The Royal Gazette launched a responsive mobile website to improve the mobile browsing experience for readers

·         Redesigning the eMoo website with improved functionality and monetisation opportunities

·         Enhancing marketing of our products, with specific objectives including increasing home delivery at The Royal Gazette, and increasing sales at the Stationery Store retail operations and the commercial supply and equipment of Office Solutions

·         Implementation of a new advertising booking and customer relationship management system

The total number of shares owned or influenced by Directors and Officers of the Company at 30 September 2016 amounts to 269,086 shares, consistent with 30 September 2015.  No rights to subscribe for shares in the company have been granted to, or exercised by any Director or Officer.

BPHL’s Annual General Meeting is scheduled for 9:30am on Friday, 24 March 2017 at The Royal Gazette building, 2 Par-la-Ville Road, Hamilton. 

BACKGROUND

The Bermuda Press (Holdings) Limited is the parent company of The Royal Gazette Limited, Office Solutions Limited,  the Bermuda Press Limited, Island Press Limited, E-MOO (Bermuda) Limited, Bermuda Directories Limited, real estate operations and the group includes a number of other Bermuda-based companies.