Plipdeco
reports $43.7m first quarter profit
Trinidad Guardian
Port Spain
Petroleumworldtt.com
05 20 07
The Point Lisas Industrial Port Development Corporation
Ltd (Plipdeco) made profit after tax of $43.7 million
for the first quarter of 2007.
Group turnover increased by 30 per cent or $14.1
million to $61.2 for the three months ended March
31, chairman Dr Rolph Balgobin reported.
“This increase is mainly due to an increase
in estate revenue and port revenue due to higher
throughput and a new port tariff that was implemented
in April 2006,” the company stated in results
published on Friday.
“Excluding unrealised fair
value gains, Plipdeco shows a group profit after
tax of $10.2
million, an increase of 159 per cent or $6.3 million
when compared to the corresponding period last
year.”
Plipdeco’s profit after tax,
which includes fair value gains, stood at $43.7
million, an increase
of $36.4 million over the corresponding period
in the prior year.
Balgobin wrote that the increase is largely due
to an increase in unrealised fair value gains to
$33.5 million from $3.4 million for the same
Trinidad
Guardian
14th May, 2007
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Guardian
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