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Atlantis hits pre-COVID cash flows with $182m

Atlantis has “stabilised” its net cash flow at pre-COVID levels by generating $182.3m for the year to end-March 2023, it was revealed yesterday, as analysts reaffirmed the credit ratings on its $1.2bn debt.

RoyalStar eyes 22% Sandy profits cut

RoyalStar Assurance yesterday said Hurricane Sandy would wipe out about 22 per cent of its projected 2012 profits, its managing director estimating total insured claims would come in at $4 million on a “net book” basis.

Insurer beats profit projections by 10%

RoyalStar Assurance yesterday said its $4.401 million net income for the 2012 full-year exceeded post-Sandy expectations by 10 per cent, as it vowed to “protect our turf” against increased competitive threats this year.

Bank braces for $2.4m tax impact

Bank of the Bahamas is bracing for a $2.4 million fourth quarter hit from the 3 per cent ‘bank tax’ unveiled in the 2013-2014 Budget, its managing director yesterday expressing “cautious optimism” it would return to profitability in its 2015 financial year.

Fidelity 'expects' to beat $4m net profits for 2012

FIDELITY Bank (Bahamas) is "comfortable" with projections that its 2012 full-year net income will exceed last year's $3.844 million, yesterday telling Tribune Business it expected its bottom line to increase quarter-over-quarter throughout this current financial year.

$40m insurer 'outperforming market by considerable way'

ROYALSTAR Assurance's managing director yesterday told Tribune Business the general insurer had "outperformed everyone in the market by a considerable way" over the past nine years, although $1.4 million in net Hurricane Irene claims dropped its 2011 total comprehensive income by 15.7 per cent.

RoyalStar ‘won’t chase rainbows’

RoyalStar Assurance “won’t be chasing the rainbow” for new business in 2016, with pricing pressures and other market uncertainties driving it to forecast a flat year-over-year performance.

Cable below 2011 without SRG's $2m

Cable Bahamas' 2011 net income would have fallen below 2010 comparatives had it not been for the $2.022 million profit produced by its newly-acquired Systems Resource Group (SRG

Over 25% of BOB's loans still delinquent

More than one-quarter of the Bank of The Bahamas net loan portfolio was delinquent at end-June 2018 despite the prior year’s bail-out, with its financials unable to escape a “going concern” warning.KPMG, the BISX-listed institution’s external auditor

Cable and Gov’t hit by $41m Aliv losses

Aliv’s near-$41m loss for the year to end-June 2021 continues to drag on both its BISX-listed parent and the Government, just-released financial statements reveal.

Cost rises take 30% bite out of AML Foods profits

AML Foods yesterday revealed that increased costs and inflation took a bite out of its annual profits after net income for the 12 months to end-April 2023 declined by 30 percent year-over-year.

AML shrugs off inflation, ‘out-of-stocks’ concerns

Excluding one-off Dorian gains, AML Foods generated a 3.8 percent net profit increase for its 2022 third quarter despite grappling with inflation and supply chain issues that produced “high levels of out-of-stock” products.

COLINA GENERAL HAD $2M ASSET DEFICIENCY

By NEIL HARTNELL Tribune Business Editor Colina General Insurance Agency had an almost-$2 million balance sheet solvency deficiency when it was acquired by its sister company, BISX-listed Colina Holdings (Bahamas), in early December 2011 for just $1, Tri

Man United rallies to tie Chelsea

LONDON (AP) -- Javier Hernandez completed Manchester United's comeback from a 3-0 deficit at Chelsea on Sunday with a late header that salvaged a 3-3 draw and leaves the defending champions two points off the Premier League lead. After storming to a 3-0 le

Hurricane VAT holiday to have ‘net zero’ effect

An ex-Bahamian Contractors Association (BCA) president yesterday said building material price hikes mean the government’s hurricane readiness VAT “holiday” and other tax breaks will just have a “net zero” effect.

AML Foods shrugs off pandemic with $7m profits swing

AML Foods has received a further $2m boost from Hurricane Dorian insurance recoveries as it posted a more than $1.6m bottom line reversal into the black for its just-ended 2021 second quarter.

Cable pledges 'remedy' over Aliv $60m bond

Cable Bahamas' top executive yesterday said itself and the Government will "remedy any challenges" caused by non-compliance with covenants related to $60m in bonds issued on Aliv's behalf.

Team Bahamas' performance exceeds expectations at the Optimist North American Championships

NATIONAL team head coach Keir Clarke said the Bahamas’ 16-member team exceeded expectations for a group relatively new to an elite level of international competition in this year’s Optimist North American Championships. The big event was hosted by t

Flamingos Women’s Golf Club 242 hosts its inaugural 18 hole scramble golf tournament at Baha Mar’s Royal Blue Golf Course

THE development of women’s golf is making headway led by the Flamingos Women’s Golf Club 242.

Sands Beer Cup to be awarded to golfer with most net points

EARLIER in the year the Bahamas Golf Federation and the Bahamian Brewery and Beverage Company announced a new event called the Sands Beer Cup. The Cup, which is being specially designed by Sands Beer, will be awarded to the golfer with the most net

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