Berbice Bridge Company sees 57.3% rise in profit for 2011
-Ram queries tax position, failure to list shares sale
The Berbice Bridge Company Inc registered a 57.3% increase in profitability for 2011 but chartered accountant Christopher Ram has raised concerns about the validity of this position considering the question of taxes and he also noted that the annual returns failed to reflect a large sale of shares to the Queens Atlantic Group.
Writing on his www.chrisram.net blog, Ram said the financial performance of the company BBCI in 2011, the sixth year of a 21-year concession period, improved significantly over 2010 with a 57.3 profit rise. This, he said, was not however without serious question. He said that the annual return for the company, incorporated in 2005, was filed earlier this week with the Registrar of Companies.