May 2010 Financial News

Flat revenue for BS&T Group

May 28, 2010

Revenue for the Neal and Massy Holdings-owned Barbados Shipping and Trading (BS&T) was down or flat across the Group with few exceptions, its chairman Gervase Warner has reported. The main reductions experienced were in vehicle sales and airport services. Exiting lumber sales at DMI and price reductions at Roberts Manufacturing also contributed to the nine per cent decline in Group third party revenue.

This was revealed in BS&T’s half-year report, which ended March 31, 2010. Neal and Massy Holdings acquired BS&T in 2007. The report stated that the profits from the Group’s subsidiaries improved by 19 per cent due to the corrective actions taken previously with certain of the operations and through close control of expenses.

It also said the associated companies in the tourism sector and retail associate in Bahamas recorded losses, which reduced the growth of the Group’s profit before tax to nine per cent. After accounting for higher profits which are attributable to minority interest, profit attributable to BS&T shareholders declined by two per cent.


Source:
Trinidad Guardian
Friday May 28, 2010

http://guardian.co.tt/business/business/2010/05/28/flat-revenue-bst-group