Dhiru Tanna, Chairman of the Blue Power Group is reporting marginal improvements in the company’s financials for the 1st Quarter ended July 31, 2017.
This as the first quarter of the new financial year saw an overall improvement in sales from JA$339 million to JA$381 million, an increase of just over 12%, while profits before tax inched up from $43 million to $44 million, an increase of just under 3%, when compared to the same period last year.
On the bright side, he reported that export sales continued to outpace increases in sales in the domestic market with an improvement of 27% over the same quarter in the previous year.
Commenting further he indicated that although small, particularly noteworthy was the increase in hotel size soaps of 87%. In terms of divisional sales, the Lumber Depot Division showed an improvement of 13%, from $241 million to $272 million while the Blue Power Division increased by 11% from $98 million to $109 million. Lumber Depot Division profit after tax jumped by 8% while the Blue Power Division showed a marginal decline of 1%.
In his forward outlook Mr. Tanna indicated to shareholders that given that the economy has begun to stabilise, it is to be expected that the financial results would not change dramatically between periods in the absence of significant price changes or volume sales.
Blue Power closed the quarter with earnings per stock unit increasing marginally from 66 cents to 68 cents. BM
To view Blue Power Group Limited Unaudited Results for the First Quarter Ended July 31, 2017 click HERE