The Board of Directors of Desnoes & Geddes Limited has declared a second interim dividend for the year 2012 - 2013 of JMD 0.10 per share payable on June 25, 2013 to shareholders on record as at June 7, 2013. The ex-dividend date is June 5, 2013.

Desnoes & Geddes Ltd. reported unaudited earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported net sales of JMD 2,394 million, trading profit of JMD 301 million, profit before tax of JMD 287 million and profit after tax of JMD 243 million or 8.63 cents per stock unit compared to net sales of JMD 2,783 million, trading profit of JMD 421 million, profit before tax of JMD 423 million and profit after tax of JMD 298 million or 10.60 cents per stock unit reported in the same period last year. For the nine months, the company reported net sales of JMD 7,688 million, trading profit of JMD 1,519 million, profit before tax of JMD 1,500 million and profit after tax of JMD 1,050 million or 37.39 cents per stock unit compared to net sales of JMD 8,201 million, trading profit of JMD 1,173 million, profit before tax of JMD 1,172 million and profit after tax of JMD 808 million or 28.76 cents per stock unit reported in the same period last year. The decline in profit was largely due to the first phase of separation costs (JMD 152 million, approximately half of the total expected payout) resulting from the business decision to outsource its sales and distribution arm to its newly formed Joint Venture company Celebration Brands. Net cash provided by operating activities was JMD 1,867.6 million against JMD 833.0 million and acquisition of property, plant and equipment was JMD 332.2 million against JMD 341.3 million reported last year.

Desnoes & Geddes Ltd., Board Meeting, May 16, 2013. Agenda: To consider the payment of a second interim dividend for the year 2013.