tTech reports 2% decline nine months net profit
November 14, 2019 tTech Limited (tTech), for the nine months ended September 30, 2019, booked a 22% increase in revenues to $262.08 million compared to $214.84 million recorded for the prior financial year’s corresponding period. According to management, “Our revenue increase in this quarter was related to the continuation of major network upgrade projects where tTech, in addition to providing our traditional services, also procured and provided the equipment required to execute on these projects. Our important monthly recurring revenue from Managed IT Services continued to grow in Q3 with the addition of new customers using these services. Cost of
CHL reports 19% decline in year end net profit
November 14, 2019 For the year ended September 30, 2019, Cargo Handlers Limited (CHL) revenue for the year improved 3% year over year to $366.44 million versus $355.74 million booked for 2018. Revenue for the quarter contracted 7% to $70.59 million versus $75.63 million booked for the same quarter of 2018. CHL noted, “the movement was due mainly to the absence of Cruise Line home-porting operations in Montego Bay during this period. All other stevedoring activities remained consistent with the results achieved in the corresponding period last year. Cement cargo through-put continued to record growth during the period while
BIL reports year end net profit of $1.72 billion
November 14, 2019 Barita Investments Limited (BIL) for the year ended September 30, 2019, reported a 49% improvement net interest income to $651 million relative to $422.29 million in 2018. Management noted this was, “due to a combination of factors, principally, increased portfolio size owing to our capital raising initiatives together with growth in our on book liabilities.” Dividend income fell 3% to total $30.67 million compared to the $31.78 million earned in 2018. BIL stated, that, “this decline in dividend income in FY2019 is a consequence of a more active approach to the management of the Group’s equity portfolio