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<p>Fifty-year-old stationery leader, Stationery &amp; Office Supplies (SOS) Ltd. continues to see its financial fortunes grow.</p>
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<p>For the financial year 2017 to 2018, SOS
posted revenues of $1.06 billion, an increase of 17% over the previous year.</p>
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<p>Pre-tax profits came in at $85 million, an increase on the $83 million posted in the prior year. Its stock price has jumped from $4.97 at the start of the years to $8.19 presently.</p>
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<p>SOS made significant strides with the
acquisition of SEEK, allowing it to acquire the manufacturing assets of Book
Empire. Book Empire makes the SEEK Brand of notebooks and writing pads.</p>
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<blockquote class="wp-block-quote"><p>This has given us an opportunity to prove that local does not mean inferior, as we’ve seen sales skyrocket since that acquisition.</p><cite>SOS Ltd’s Deputy Managing Director, Allan McDaniel</cite></blockquote>
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<p>This $80 million acquisition allowed SOS to
start light manufacturing, thus reducing its dependence on imported office and
furniture supplies.</p>
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<p>“We’re excited about the SEEK acquisition,
not just because of the profitable implications of being able to decrease our
imports, but having the opportunity to promote brand Jamaica in this way means
a lot to us, as a company who is also heavily invested in Jamaica.</p>
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<div class="wp-block-image"><figure class="aligncenter"><img src="https://buzz-caribbean.com/app/uploads/2019/08/Allan-McDaniel.png" alt="" class="wp-image-2250" /><figcaption> SOS Ltd’s Deputy Managing Director, Allan McDaniel </figcaption></figure></div>
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<p>“This has given us an opportunity to prove
that local does not mean inferior, as we’ve seen sales skyrocket since that
acquisition, said SOS Ltd’s Deputy Managing Director, Allan McDaniel.</p>
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<p>For the first quarter of 2019, revenues are
up 23% with pre-tax profits increasing by 30%.</p>
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<p>The company has plans in place to export to
Barbados this year.</p>
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