Aug 2016 Financial News

Standards seeing double-digit revenue growth

Aug 25, 2016

Not daunted by the downturn in the T&T economy, Adam Sabga managing director, Standard Distributors Ltd said on Tuesday the company is enjoying comfortable market share as it has witnessed its second year of double-digit growth. 

Without disclosing what was the company’s revenue growth, he said offering quality and customer service are two factors which give Standards its competitive edge.

Delivering the feature address at the ceremony to officially re-launch Standards’ 30,000 square feet ANSA House location on Queen Street in Port-of-Spain, Sabga said he planned to refurbish the company’s Canaan and Arima branches within the next few weeks as well as the two branches in Barbados. This means, he said, that nine branches would have been renovated and the rest would be completed by next year.

Considered to be the largest and oldest locally owned furniture and appliance merchant, Sabga said the quality Standards’ offers its customers is a habit which must be at the centre of every single interaction with the customer.

“Taking this approach (customer service) has allowed us to continue to flourish during what is heralded as hard times, some of you may know it as recession. I stand before you here today and ask, what recession? I can make this bold statement because we are now in our consecutive year of double digit growth.”

Describing the refurbishment of the store as a “monumental task” Sabga said the store had to be closed for three weeks so it could have been redesigned and refurbished to give customers an international shopping experience. 

Now using what he called, “the big office” he is the third generation to carry on the family’s business.

Even though the store is located at the corner of Henry and Queen streets, its brand is strongly recognised by its customer base. The city of Port-of-Spain location is not dieing because “all one has to do is stand on the corner during the day and you will see a couple thousand people walking, commuting and shopping through these streets and you’ll appreciate the city.”

While he embraced the city, he admitted that there are challenges such as “traffic, the lack of parking facilities, the crime and the vendors who sometimes ply their trade sometimes on your doorstep.

“We do have comfort in knowing that the Mayor is willing to partner with the business community and do whatever is needed to be done to restore our capital to the commercial (place) it once was.”

Also speaking at the ceremony was Port-of-Spain Mayor Keron Valentine who said the city corporation does not want the city to die. Valentive gave a commitment that in the next fiscal year the Government would be “aggressively approaching” the developmental process in the city.

“The Port-of-Spain Corporation, we will do all we can to have a user friendly city, a clean city, a city that we do not have to worry too much about crime.”

Source:
Trinidad Guardian
Thursday August 25, 2016

http://www.guardian.co.tt/business/2016-08-25/standards-seeing-double-digit-revenue-growth