Aug 2016 Financial News

Plipdeco revenue down by $16.1m

Aug 08, 2016

For the second quarter ended June 30, the Point Lisas Industrial Port Development Company (Plipdeco) recorded profit before tax of $68.4 million.

Chairman Ian Atherly said: “The profit before tax, excluding the impact of fair value gains on tenanted estate premises, stood at $5.3 million in 2016 as compared to $15.6 million in 2015. This profit before tax, excluding fair value gains, tripled when compared to the first quarter ended March 31, 2016 financial performance.

He said group revenue decreased by $16.1 million due to a combination of increased volumes for general cargo (30,951 tonnage) and a decline in throughput of containerised cargo (29,487 TEUs). Total Assets remained at $2.5 billion

Atherly said Plipdeco would invest in continued growth and development while focussing on revenue generation, cost control, equipment reliability, productivity and profitability.

Source:
Trinidad Guardian
Monday August 8, 2016

http://www.guardian.co.tt/business/2016-08-08/plipdeco-revenue-down-161m