Aug 2016 Financial News

NEL records $80.4M profit

Aug 19, 2016

NATIONAL Enterprises Ltd (NEL) has recorded a profit of $80.4 million for the quarter ended June 30.

In the group’s consolidated interim financial statements for this period, chairman Jerry Hospedales indicated that NEL’s investee companies are all managing the risks and challenges posed by a global low growth economy which is becoming interconnected.

Hospedales also said these companies are exploring investment opportunities to grow their businesses.

The Telecommunications Services of TT has returned to profitability and has embarked on a five-year, $3.7 billion investment programme to deliver a wide variety of competitive services in a customer-friendly environment. Tringen has reduced its operating costs through the successful implementation of its Energy Efficiency Improvement Project on its Tringen I plant. National Flour Mills, TT NGC NGL Ltd, Pan West Engineers and Constructors remain profitable at lower levels.

Source:
Newsday
Friday August 19, 2016

http://www.newsday.co.tt/business/0,232114.html