Witco sales down, profits up

WITCO_Tobacco280x150West 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.

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  1. […] West Indian Tobacco reported profit before taxation of TT$655 million, after earning TT$219 million in the final quarter ending December, last year, and an increase of 18 percent over the 2013. Profit after taxation for the year amounted to TT$489 million, 19 percent increase over 2013. Revenues increased from $1.185 billion to $1.25 billion. Cost of sales improved in the 2014 quarter raising gross profit to $784 million versus $701 million. Other costs of operation declined for the year with distribution cost declining from $18 million to $13 million and administrative expenses reaching $89 million in 2014 compared with $95 million in 2013. Other operating expenses fell to $27 million from $33 million. The company earned $5.81 per share for the year to December and paid out $5.51 in dividend. A price adjustment, made in the latter part of 2014 is set to help push dollar sales and move profits up for 2015. IC Insider is projecting earnings of $6.50 per share for 2015. The stock trades at $125.03 on the Trinidad and Tobago Stock Exchange. […]

  2. […] on the Trinidad Stock Exchange started 2015 on a positive note with First Citizens Bank and West Indian Tobacco traded heavily. The market closed with 12 securities changing hands of which 4 advanced, 1 declined […]

  3. […] had 318 shares changing hands at $1.45, Trinidad Cement contributed 500 shares to end at $2.50 and West Indian Tobacco exchanged only 72 units at $121.33. IC bid-offer Indicator| At the end of trading the Investor’s […]

  4. […] West Indian Tobacco closed $1.96 higher to a new 52 weeks high in trading on the Trinidad Stock Exchange, on a day when 16 securities changed hands of which 5 advanced, 9 declined and 2 traded firm, with a total of 997,076 units, valued at $6,925,563. At the close of the market, the Composite Index rose 1.79 points to close at 1,142.53, the All T&T Index gained 3.42 points to close at 1,964.40 and the Cross Listed Index increased by a mere 0.02 points to end at 42.00. Gains| Stocks increasing in price at the close are, Grace Kennedy contributed 78,458 shares with a value of $301,244, while gaining just 1 cent to $3.84, Republic Bank with 63 units at closed at $119.97 with a gain of 7 cents. Scotiabank gained 5 cents in trading 80 shares at $58.22, Trinidad Cement with 500 shares closed 2 cents higher, at $2.02 and West Indian Tobacco gained $1.96 to end the day at $121 while trading only 251 shares. Declines| The stocks declining at the end of trading are, Ansa Merchant Bank traded 1,000 at $39.41 down by 1 cents and Massy Holdings fell 2 cents to close at $68.47. Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund with 100,340 shares valued at $2,260,353 closed unchanged at $22.50, Firstcaribbean International with 515,650 shares changing hands for a value of $2,578,250 closed at $5, First Citizens Bank traded 2,663 shares at $36.75. Guardian Holdings traded 1,000 units at $13.50, followed by Jamaica Money Market Brokers with 249,259 shares valued at $112,166, to close at 45 cents, National Commercial Bank with 5,000 shares ended at $1.15, One Caribbean Media added 15,225 shares valued at $382,147, to close at $25.10, Prestige Holdings traded 4,000 units at $9.56 and Sagicor Financial Corporation traded 8,997 shares to close at $6. IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and none with offers that were lower. […]

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