Trinidad’s West Indian Tobacco company profit jumped 23.5 percent in the June quarter, to hit $127 million as revenues climbed by a smaller 15 percent, to $324 million.
For the six months to June, profit is up to $224 million from $188 million, a 19 percent spurt, from revenues of $590 million versus $556 million in 2013. For the year to June, distribution, administrative and other cost were flat at $72 million, but corporate taxes was up to $73 million from $66 million. Earnings per share came in at $1.50 for the quarter and $2.65 for the half year. Earnings for the full year to December should reach $5.70 per share. The stock last traded for $118 in Trinidad putting the PE at 21. Witco will pay a dividend of $1.20 for the June quarter and $2.18 for the six months, an increase over the payments last year of $1.04 and $186 respectively.
West Indian Tobacco is listed on the Trinidad Stock Exchange and is a subsidiary of British American Tobacco, it is a fellow subsidiary of Carreras in Jamaica to whom it is the major supplier of cigarettes.
Witco has no borrowed debt but has shareholders’ equity of $284 million and cash funds of $191 million at the end of June. All currency are in T&T dollars.
WITCO Q2 profit jumps 23.5%
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[…] West Indian Tobacco (Witco) raised prices on cigarettes approximately 15 percent, effective October. The increase should […]
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[…] with a volume of 3,054 shares traded for $112,142 to close at $36.72 with a gain of 2 cents and West Indian Tobacco contributing 2,264 shares with a value of $267,673 and gained a cent, at $118.23. Declines| Stocks […]
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[…] declined by 0.64 points to close at 1,969.72 and the Cross Listed Index remained at 41.14. Gains| West Indian Tobacco climbed 5 cents to end the day at $118.21 while trading 44 units, to be the only winner on the day. […]
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[…] Sagicor Financial Corporation traded 9,700 shares, to close with a gain of 1 cent at $6.25 and West Indian Tobacco with 4,000 shares with a value of $472,080, inched up a cent to $118.02. Declines| The stocks […]
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[…] and closed at $14.30, Jamaica Money Market Brokers with 3,663 shares, closed at 41 cents and West Indian Tobacco 1,033 units traded to close with a gain of a cent to $118. IC bid-offer Indicator| At the end of […]
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[…] the close are Trinidad Cement with 13,935 shares valued at $26,755 to close up a cent at $1.92 and West Indian Tobacco increased by a cent to end the day at $118.02 while trading 20,000 shares with a value of […]
[…] West Indian Tobacco reported profit before taxation of TT$436.4 million for the nine months ended September, 2014, an increase of 13 percent over the corresponding period in 2013. Profit after taxation for the period amounted to TT$329.3 million, 16 percent increase. For the quarter, profit of $106 million was achieved, versus $97 million, in 2013, but revenues fell to $282 million from $287 million, in the 2013 quarter. Revenues increased from $843 million to $872 million for the nine months. Cost of sales improved in the 204 quarter, and raised gross profit to $714 million versus $171 million and for the nine month, to $542 million from $496 million. Cost was mostly down with distribution cost falling from $14 million to $11.4 million and administrative expenses reaching $70.45 million in 2014 compared with $74.93 million in 2013. Other Operating Expenses rose to $23.55 million from $21.15 million. The company seems on target to hit $6 per share for the year to December. For the coming year the recent price adjustment, is set to help push dollar sales and move profits up for 2015. The Board approved the payment of a third interim dividend of $1.39 per ordinary share payable on 13 November. For the year to date Witco would have paid $3.57 inclusive of the November payment, compared with $2.93 last year. The company is a subsidiary of BATCO and is listed on the Trinidad Stock Exchange. […]