With its year end at hand, Pulse Investments Limited on Monday, June 29, assured its shareholders that the economic crisis created by the coronavirus (COVID-19) pandemic will not significantly affect its bottom line for 2020.
At this time the company should be in the process of preparing reports for financial year 2020, which ended on Tuesday last.
“While there will be a reduction in income for the last quarter of the financial year and two to three weeks of the previous quarter, this would only affect our international model agency commissions, our rooms business and Caribbean Fashionweek’s live staging,” a notice on the Jamaica Stock Exchange website read.
According to Chairman of Pulse Kingsley Cooper, the income those business lines would normally account for 10 per cent of the company’s overall intake. And given that COVID-19 only impacted the final quarter, he said that not more than three per cent of business activity would be affected.
As a result, the company will, in the new financial year, endeavour to reduce its expenses and increase income from areas such as media and investment property to recoup any losses.