SOS returns to student notebook production, in anticipation of schools reopening
Published:Wednesday | August 11, 2021 | 12:06 AM
Stationery and Office Supplies Limited, SOS, has ended its temporary halt on the production of student notebooks, or exercise books.
The capacity had been reassigned to the production of around 20 per cent more ruled pads, quire notebooks and stenographer pads under the SEEK brand, which were targeted at the corporate market.
But with the expected reopening of schools and resumption of classroom instruction in September, SOS is back to producing notebooks for the school market.
The pivot is just the latest in a series of adjustments the company has executed since the pandemic to keep its financial health intact.
SOS more than doubled its earnings to $58 million for the January-June 2021 period, while revenue grew 16 per cent to $551 million. The second quarter was less robust than the first, contributing just $3.1 million to the half-year results. Still, it reversed a loss of $21 million in the comparative April-June 2020 period.
“History has shown that SOS’ second quarter is normally the slowest period during the year, but even though we continue to suffer through the COVID-19 virus and all of the issues that come along with it, SOS was able to post a profit, with significant improvements, compared to the second quarter of 2020,” said Deputy Managing Director Allan McDaniel.
“These are good indicators that Jamaica’s economy is continuing to rebound, and as we progress through the summer months, we will see the return of children to school, which will also help improve the sale of SEEK back-to-school products in the market,” he said.
On Monday, the Jamaican Government said it hopes to have students back in classrooms by mid-September and is working to have as many Jamaicans as possible vaccinated against the virus before then.