Wednesday 25 November, 2020

SOS increasing book production for back-to-school

Stationery and Office Supplies has begun construction of an 8,000 square foot warehouse, which will aid in increasing the production of its books for availability for the start of the new school year in September.

Stationery and Office Supplies has begun construction of an 8,000 square foot warehouse, which will aid in increasing the production of its books for availability for the start of the new school year in September.

Stationery and Office Supplies Limited (SOS) says it has increased production of its SEEK books and will roll out a 'buy one get one half off' sale on furniture as an incentive to customers as the country recovers from the coronavirus (COVID-19) pandemic.

SOS has begun construction of an 8,000 square foot warehouse, which will aid in increasing the production of its books for availability for the start of the new school year in September.

“We are continuing to work for the future as we are confident that the economy will continue to improve and get back to where we were before the outbreak,” Deputy Managing Director, Allan McDaniel said in a release from the company.

Deputy Managing Director of SOS, Allan McDaniel

Revenues of SOS declined in March when COVID-19 hit Jamaica’s shores. However, the company was able to sustain its gross profit percentage. Additionally, pre-tax profits of $43.8 million were the third-highest pre-tax profit figure in a quarter.

The company was also able to record a 65 per cent increase in cash and bank, largely due to its 2019 financial year profits. This increase allows SOS with enough cash flow to remain operational in the short to medium-term, depending on the impact of the COVID-19 virus.

“Over the years we have steadily increased our profits and been able to grow the business year after year. We are truly blessed to be able to have accomplished that and in turn serve the Jamaican business community in the way that we have. As such, we remain committed to helping Jamaicans in any way possible this season,” McDaniel said. 

Despite COVID-19’s effect on salaries, McDaniel said employees have remained unwavering in their commitment to serve customers and work with management for future growth plans.

“We have always been immensely proud of our team and have honoured them the best way we know how. We have continued to do so in this time by ensuring they have an income to support their families in these challenging times,” says McDaniel about SOS’ staff.

The company, whose main activity includes the sale of office furniture and stationery office supplies, said it looks forward to seeing the return of the strength of the Jamaican economy and the reignite of trade with countries in the regional and global markets.

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