President Anthony Carmona has deferred his response to questions now in the public domain relating to issues at President’s House. His response will be given on Wednesday.
LJ Williams Ltd has reported an increase in sales to $79.307 million—a seven per cent increase over the same period last year—in its unaudited financial results for the nine-month period ending December 31, 2013. In his review of the company’s performance, chairman Krishna Bahadooringh said operating profits increased to $6.865 million with an after-tax profit of $3.803 million. “This is a marked improvement over last year’s period when the company had an operating profit of $2.498 million and an after-tax loss of $813,000,” he said.
Bahadoorsingh said the Home Store had a good third quarter with sales and profit increased over the same period last year. He added: “Movalite has also improved on its half-year results and has done well in this third quarter.” There was continued growth in the group’s food and shipping divisions but the hardware division remained flat with sales and profit on par with the previous year.
“The company re-entered the wine and spirits business after it was approached by The Belvedere Group and asked to manage their portfolio. Belvedere is the seventh largest wine and spirits manufacturer in the world with brands such as Sobieski vodka, Marie Brizard liqueurs and Gautier cognac. Distribution of the products started in November 2013,” Bahadoorsingh said.
“We expect to end the year on a positive note and, given our strong results for the nine months, the Board has approved an interim dividend of en cents on preference shares, two cents on ‘B’ shares and 0.2 cents on ‘A’ shares.”