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Joaquin’s $1.3m loss blocks Bahamas First from earnings record
Bahamas First would have produced another profit record in 2015 had it not been for the net $1.3 million loss associated with Hurricane Joaquin, its chief executive yesterday confirming it paid all storm-related claims from its own resources.
J S Johnson puts COVID ‘in dust’ via 15% profit rise
J S Johnson shrugged off ongoing reinsurance capacity concerns to yesterday unveil a 15.1 percent profit increase for the 2022 that was aided by placing COVID-related restrictions “in the dust”.
Commonwealth cuts loan delinquency by up to 5%
Commonwealth Bank says non-performing loans have reduced by between 1-5 percent across all credit segments since year-end 2022 as its portfolio expands faster than market growth.
Kalik maker’s loss doubles as revenues decline 15%
Commonwealth Brewery yesterday blamed a 15 percent year-over-year revenue decline for its 2021 first quarter loss more than doubling in comparison to 2020 figures.
Tourism ‘constrained’: Stopovers down 6%
The Central Bank has again sounded the alarm over “constrained” tourism performance, with total stopover visitors down 6 per cent for the 2017 first half due to Freeport’s woes.
Domestic Gov’t bond just 25% subscribed
Concerns were raised last night over investor appetite for the Government’s debt after just 25 percent of a recent $47.326m bond issue was picked up by the market.
First Annual Potcake Golf Tournament ‘huge success’
PEDIGREES may have their Westminster Kennel Club show, but it was the Bahamian Potcake – that special breed of dog with the narrow head and a keen sense of how to cross the street on its own terms – that stole the show during the 1st Annual Potcake Golf Tournament.
Bahamas needs ‘more marked’ deficit decline
Standard & Poor’s (S&P) has warned the Bahamas needs a “more marked” decline in its fiscal deficits to halt the rising national debt, which it forecasts will grow to 53 per cent of GDP on a net basis by 2018.
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.
