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Brewery shrugs off Dorian devastation
Commonwealth Brewery is “cautiously optimistic” on the economy’s short-term prospects after it rebounded quickly from Dorian’s destruction of five retail outlets and a distribution centre.The BISX-listed Kalik manufacturer, unveiling its results for
Benchmark in 2013 'income' warning
Benchmark (Bahamas) yesterday warned investors to expect a “reduction in income”in 2013, due to the pending liquidation of one of its key clients.
Colina in 120% net profit rise
Colina Holdings (Bahamas) yesterday unveiled a 120 per cent net income rise for the 2012 full-year, due largely to a reduction in claims and investor payouts.
'Decade of contraction' ends with $50m credit expansion
The Central Bank's governor yesterday revealed "a decade of steady contraction" in lending to the private sector was halted by 2023's $50.3m credit expansion although mortgage activity remained "subdued".
Governor: Use $200m for Dorian rebuilding
The Central Bank’s governor yesterday urged Dorian-ravaged businesses and homeowners to draw down on “at least $200m” in unused reinsurance funds to finance rebuilding, adding: “The economy will be better off.”
BISX-listed insurer in 29% profits rise
Colina Holdings (Bahamas) yesterday unveiled a 29 percent year-over-year increase in total net income to $8.9m for the 2019 first half.The BISX-listed holding company, revealing a $2m bottom line increase upon last year’s $6.9m, said net income attri
Reserves slide continues trend with four percent fall
External reserves slid by four percent in November, continuing a trend, according to the Central Bank of The Bahamas.
Bahamian law firm in awards nominee first
A Bahamian law firm has been shortlisted for Offshore Firm of the Year at this year’s Chambers High Net Worth Awards 2019. Lennox Paton said its shortlisting as one of three finalists marks the first time a local law firm has been in contention for
$200m GB cruise port beneficial if ‘balanced’
East Grand Bahama’s MP said yesterday that the $200 million Carnival cruise port for his constituency will boost the economy, provided the deal is balanced and Bahamians are the net beneficiaries.
‘Bureaucratic delays’ drive Doctors losses
Doctors Hospital’s chairman has blasted the “many bureaucratic obstacles” it has faced in obtaining approvals for its medical tourism initiatives, implying that this played a key role in driving a 190 per cent year-over increase in its net losses.
Bank's equity investors see 60.7% income drop
Bank of the Bahamas International’s shareholders have seen a 60.7 per cent decline in net income available to them from the 2012 financial year, largely due to increases in preference share dividends and loan loss provisions.
GB Power targets 42% profits rise for 2013
Grand Bahama Power Company (GBPC) is projecting that its net income will “improve significantly” by 42.1 per cent this year, rising to $12.331 million on the back of cost efficiencies and its ‘return-based’ tariff structure.
Arawak port bulks up as autos fall off
A 59,000 ton increase in bulk aggregate imports, combined with a $109,000 year-over-year expenses decline, enabled the Arawak Cay port’s operator to beat profit targets by nine percent.
Colina suffers 96% fall on investment income
A BISX-listed life and health insurer has revealed that 2020 first-half profits were down $3m year-over-year after its investment income plummeted 96 percent due to COVID-19's impact. Colina Holdings (Bahamas), the parent of Colina Insurance Company
COVID alcohol bar cuts Brewery revenue 48%
Commonwealth Brewery has disclosed that the COVID-19-related bar on alcohol sales slashed its 2020 second quarter revenues by 48 percent year-over-year, dropping it to a $3.16m first half net loss.
CIBC loan deferrals decrease by $420m
Just $6m worth of loans remained in CIBC FirstCaribbean International Bank (Bahamas) COVID loan deferral initiative at end-October 2021 compared to $426m exactly one year earlier.
Net profit of $1.06 million FOR AML
AML Foods Limited recorded a 26 per cent total sales increase for its fourth quarter ending January 31, 2013, during which it recorded a net profit of $1.06 million.
GB Power offering 35% oversubscribed
Grand Bahama Power Company (GBPC) yesterday announced that its $32 million preference share issue had closed a week earlier than planned, after it was oversubscribed by more than 35 per cent.
Sports inbrief
BAHAMAS LAW
VAT may increase poverty levels
POVERTY levels in the Bahamas could rise with Value Added Tax without safety net programmes in place, a new study by the Inter-American Development Bank has revealed.
