BIL reports 3% increase in net profit for nine months
Interest income declined by 5% during the nine month period, to $832.02 million relative to $878.74 million for the comparable period in 2016. Interest expense also declined by 7% to close at $610.19 million compared to $653.21 million in 2016. As a result, net interest income declined by 2% to $221.83 million relative to $225.53 million in 2016. While for the third quarter the company booked $75.88 million in net interest income. Dividend Income increased 131% to total $27.29 million compared to the $11.83 million earned in 2016. Gains on sale of investment increased by 47%, to $190.24 million
Gas Price Movement August 10, 2017
Brent Oil Brent oil prices increased by 0.65%, as prices increased for the sixth consecutive week. Oil traded on August 9, 2017 at a price of 52.70 (US$/ barrel). Petrojam prices 87 Octane prices increased week over week, by 0.74% . Additionally 90 Octane increased by 0.72% week over week. 87 Octane and 90 Octane opened the year at J$97.32 and J$98.98 respectively. Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History This Week in Petroleum Strong domestic and export demand is outpacing U.S. gasoline production, resulting in stock draws Gasoline
tTech reports 36% decline in six months net profit
tTech Limited (tTech) for the six months ended June 30, 2017: booked a 2% increase in operating revenues for the period to $107.83 million compared to $105.57 million for the corresponding period last year. Revenue for the quarter contracted 12% from $58.43 million in June 2016 to $51.25 million. According to tTech, “revenues in 2016 were boosted by the partial billing for a large PBX system, but no comparable projects were realized in this quarter.” Operating Expense rose 9% to $98.47 million from $90.64 million for June 2016. However the company recorded an 8% decline in operating expenses to $45.85