A year can sometimes make the world of difference in the fortunes of a business enterprise as the recently released 2010 Annual Report of JP Santos and Company Ltd reflects.
Last year, the wholly owned subsidiary of John Fernandes Ltd more than doubled its 2009 after-tax profit, netting returns of $152.9 million compared with $72.7 million in 2009.
The company’s significantly improved 2010 performance was due in large measure to significantly reduced taxation, which, in 2009, had slashed its overall income by around 44 per cent from $129 million in
