AMG Packaging Limited says the company has set up numerous measures to ensure the staff and customers are “well protected” under under COVID conditions.
In comments attached to its second quarter financials, Managing Director George Hugh said, “AMG has met with the Ministry of Health (MOH) to ensure that all protective procedures are in place due to the COVID-19 pandemic.”
AMG is located at 10 Retirement Crescent in Kingston. The company makes cardboard and packaging materials for the manufacturing sector.
The company, incorporated in September 2005, released results for six months showing profit of $20.97 million made on total revenues of $362.81 million.
Earnings are slightly down from net profit of $21.59 million made on total revenues of $387.69 million at February 2019.
Revenue for the quarter ended February 2020 was $171.21 compared to $173.77 for the similar period in 2019.
Net profit for the second quarter was $6.32 million compared to $5.54 million at February 2019.
AMG is planning the expansion of its factory operations, a project for which it has received approval from the Kingston and St Andrew Municipal Corporation (KSAMC).
The new facility will be an expansion of AMG Packaging’s current operation, with building slated for 12 Retirement Crescent on land acquired for the purpose.
Financing for the project was reportedly secured from PROVEN Wealth Limited.
The company is also investing in new equipment. AMG’s decision to expand its box making follows the decision to flush away a loss-making toilet paper business.