Blue Power Group Annual General Meeting
The Blue Power Group held its annual General meeting on Friday September 15, 2017. The Group’s Managing Director, Major Noel Dawes, gave an analysis of the company’s performance over the last financial year and most recent quarter. Maj. Dawes noted that, “the financial year shows increased sales and improved profits. Overall sales for the twelve months are up from $1,216 million to $1,395 million (+15%) with the Lumber Depot Division showing an increase of 11% and the Blue Power Division improving by 24%. Profits before tax rose by 65%, from $85 million to $140 million. After tax profits improved by
MTL reported a 47% decline in net profit 2017FY
Revenue amounted to US$6.53 million, 5% less than the US$6.86 million recorded for the prior financial year. Cost of sales amounted to US$2.03 million relative to US$2.81 million recorded the previous year. This resulted in gross profit of US$4.51 million, a decline of 6% compared to the US$4.77 million reported in 2016. Total expenses increased by 4% year over year, moving from US$3.84 million to US$4.01 million. Of this, Administrative and general expenses closed at US$3.73 million, an increase of 7% compared to US$3.5 million in 2016. Depreciation totaled US$211,755, a decline of 32% relative to the US$309,783 booked
SIJL reported a 3% increase in net profit for nine months 2017
Net Interest Income declined by 7% or $99.45 million when compared with the same period a year ago, to total $1.03 billion. This as interest income fell by 4% to close at $2.08 billion, while interest expenses declined 1% to close the period at $1.05 billion. For the quarter Net Interest Income totaled $345.10 million (2016: $374.03 million). Net Fees and Commission Income amounted to $1.02 billion, an 11% increase from $923.78 million booked last year. Net Foreign Exchange Trading Income totaled $22.42 million; a decrease of 41% from the $38.15 million booked in 2016, while for the quarter Net Fees