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Polaris Holding Company Ltd, Audited Financial Statements for the year ended March 31, 2019

Hamilton, Bermuda – 27 August 2019 — In a filing with the Bermuda Stock Exchange (the “BSX”), Polaris Holding Company Ltd.,(the "Company"; Ticker: POLAR.BH), release their audited financial statements for the year ended March 31, 2019. The filing stated:

 

Polaris Holding Company Ltd. (“Polaris”), parent company for Stevedoring Services Limited and the recently acquired East End Asphalt Company Limited realized a 2019 net profit of $1.07 million before reflecting $266K in acquisition and start-up costs associated with the Company’s purchase of East End Asphalt Company Limited (“EEA”). This represents the fourth year in a row of achieving over a one million dollar gain.

 

Polaris has demonstrated once again that it is a steady pair of hands - true to its motto - “Quietly powering Bermuda”. Without interruption or disruption, Polaris through its subsidiaries has ensured that the goods and products that are required by and for its community are delivered safely in a timely and efficient manner.

 

With the recent acquisition of EEA, Polaris is primed for growth in another service industry where its proven management experience, coupled with the expertise of the EEA staff will ensure that entity to be another successful performer in the Polaris portfolio.

 

After accounting for the EEA acquisition and start-up costs, Polaris reported an $801K, or $0.90 per share gain, with its return on equity 7.0%.

 

At the current $0.32 per share annual dividend distribution and based on Polaris’ most recent BSX price of $5.10, its dividend yield is a pleasing 6.3%.

 

For a comprehensive analysis of Polaris, the fiscal year’s results, and its vision for the future go to http://bit.ly/PolarisAR2019to access its fiscal 2019 annual report.

 

 

 

 

ABOUT POLARIS HOLDING COMPANY:

 

In addition to Stevedoring Services Limited and East End Asphalt Company Limited, Polaris Holding Company Ltd. operates Mill Reach Holding Company Limited, which holds real estate located at Mill Reach Lane, Pembroke and Equipment Sales and Rentals Limited, a company which owns and leases heavy operating machinery and equipment to Stevedoring Services Limited. All entities are wholly owned by Polaris Holding Company Ltd. with consolidated results incorporated in Polaris Holding Company Ltd.’s March 31, 2019 financial statements.

TRADING HOURS

08:30-09:00 Price Discovery
09:00-16:30 Continuous Trading

CONTACT DETAILS

TEL: +1 (441) 292 7212
FAX: +1 (441) 292 7619
Email: info@bsx.com

LOCATION

30 Victoria Street
3rd Floor
Hamilton, Bermuda

MAILING ADDRESS

P.O. Box HM 1369
Hamilton HMFX

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