Wednesday, Jan 23, 2019

Good year for GEL

Good year for GEL
19 Dec

Despite a poor fourth quarter performance due largely to the impact of hurricanes in the region, Goddard Enterprises Limited has recorded a successful year.

According to the group's consolidated financial highlights for the year ended September 30th, the group saw growth in most of its major sectors.

This was achieved even though revenues declined by 2.5 per cent, due to challenges in the manufacturing and services division, and the sale of two food businesses in 2016, and the rum business this year.

Profit from operations - net was 63.7 million dollars, representing an increase of 2.1 per cent above the 62.4 million dollars achieved last year.

Meanwhile, Chairman Charles Herbert and Managing Director Anthony Ali say the outlook for the group is positive, despite uncertainty in some markets where the group operates.

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