May 2016 Financial News

Three month profit of $138.6m for Witco

May 03, 2016

For the first three months of the year, West Indian Tobacco Company Limited (Witco) has recorded profit before taxation of $138.6 million.

Chairman Anthony E Phillip said this represents an increase of 1.3 per cent over the corresponding period in 2015.

Unaudited financial results for the period ended March 31 show that the cigarette maker’s profit after taxation was up but 3.9 per cent over the corresponding period in 2015 to $102 million.

Phillip said the board has approved payment of a first interim dividend of $1 per ordinary share payable on May 31 to shareholders of record at close of business on May 10.

Witco, a subsidiary of British American Tobacco (Investments) Limited, is the leading manufacturer of cigarettes in the Caribbean and currently supplies 22 Caricom markets from its main base of operation in Champ Fleur, east Trinidad.

Source:
Trinidad Guardian, A15
Tuesday May 3, 2016