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AML aims to 'double' its net profit margin

AML Foods is aiming to double net profit margins to 4 per cent, its chief executive telling Tribune Business yesterday that it was targeting year-over-year top-line growth of 16.4 per cent to $115 million for its current financial year.

Fidelity on track for $8m full-year profits

Fidelity Bank (Bahamas) believes its $2 million first quarter net income performance will repeat throughout 2013, with shareholder equity returns having risen another 3.7 percentage points.

Bank of Bahamas: $69m loss drove insolvency fears

Bank of the Bahamas’ shareholders suffered a $68.747 million net loss for the year to end-June 30, wiping out its retained earnings prior to Friday’s $100 million bail-out.

Cable pressured by 18.5% cost rise

Cable Bahamas last night unveiled a 2.5 per cent net income increase for 2011 to $20.483 million, as it warned that rising costs continued to "challenge" its financial performance. Unveiling an improvement upon its 2010 bottom line of $19.991 million, the

Dennis Dames declares war

As a Free National Movement (FNM) supporter since the 1970s, I am ready to cast my net on the other side. The party has been transformed in to a sweetheart political organisation – where the leaders appear to be following in the footsteps of their whore-mongering predecessors.

‘Prioritise’ business ease, GB Chamber chief urges

IMPROVING the ease of doing business must be a “high priority” if Grand Bahama is to transform itself into an international business centre, its Chamber of Commerce president said yesterday.

Tourism levels really a success?

WHAT are our actual, net stay-over visitor levels? How many ‘oo’s do we attract by holding Government meetings, etc…?

RoyalStar: 'We'll be hunter, not the prey'

RoyalStar Assurance is aiming to leverage its $44 million net equity and “become one of the premier players in the Caribbean” within the next five years, its managing director saying: “We want to be the hunter, not the prey.”

Summit scales peak in 72% profit growth

A Bahamian insurer believes it will be “challenging” to repeat a 2015 performance which saw its net income increase by 72.3 per cent year-over-year.

Fidelity targets $25m annual profits despite 2022’s miss

Fidelity Bank (Bahamas) is targeting $25m in net profits for 2023 despite failing to achieve the same goal last year, its top executive revealed yesterday.

Benchmark 'comforts' Alliance in $2.5m loss

Benchmark (Bahamas) chief executive yesterday said the 'comfort letter' it provided last year to its Alliance Insurance Management subsidiary to affirm it was a going concern was not "a cause for worry", as the BISX-listed investment manager unveiled a $2.5 million net loss for 2011.

Minister’s $185k CARIFTA ‘surplus’ came from 360% subsidy overshoot

A Cabinet minister yesterday asserted that last year’s CARIFTA games generated a $185,503 “net surplus” even though this was only made possible by a taxpayer subsidy over four times’ higher than budgeted.

Scotia eyes 'flat' 2013 as new loans decline 7%

Scotiabank (Bahamas) is expecting a “flat to lower” net income performance for 2013, its managing director yesterday revealing that new loan volumes dropped 7 per cent year-over-year for 2012.

FINCO bad loans still over $100m

Although still carrying more than $100 million worth of ‘bad’ loans, FINCO’s almost 10-fold net income increase for 2015 has given shareholders hope that better days lie ahead.

BISX-listed fund promises investors ‘far better’ 2015

The BISX-listed Bahamas Property Fund yesterday said 2015 will be “a far better year” for its shareholders, as it aims for a ‘double digit’ increase in occupancy levels at its flagship building in downtown Nassau by mid-year.

Banks’ fee income doubles in decade

Bahamian commercial banks are generating an ever-increasing share of their income from the fees detested by many consumers, which now account for more than $1 out of every $5 in earnings.

Doctors targets $3.2m incapital upgrades for 2012

Doctors Hospital is planning to invest $3.2 million in capital projects during its current financial year, as it kicks-off "phased" expansion plans with two new

RoyalStar: Acquisition in Cayman did 'not come off'

ROYALSTAR Assurance's $41.58 million capital base has given it an acquisition 'war chest', its managing director disclosing to Tribune Business that an attempted purchase in the Cayman Islands last year failed to "come off" due to differences over valuation.

Property Fund ‘gap’ as PwC to vacate Providence House

THE BISX-listed Bahamas Property Fund is preparing for temporary vacancy at its last fully-occupied property, following a $2.206 million third quarter hit caused by a timing adjustment.

Fidelity ‘well on way’ to beat $15m profit target

A BISX-listed bank’s top executive says it is “well on its way” to exceeding its $15m full-year profit target for 2021 if first quarter “trends hold” over the remaining seven-and-a-half months.

The Tribune

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