Against the backdrop of a decidedly modest after-tax profit of $30.0 million, local company Caribbean Container Inc (CCI) has announced that its shareholders are to receive $0.20.00 per share for 2014, a 53.8 per cent increase on the $0.13.00 earnings per share at the end of 2013.
In the company’s recently released 2014 Annual Report, Acting Chairperson and Managing Director Pat Bacchus described as “a celebrated event” the eventual repayment of long-term loans made to the company in 2006 and 2007 which enabled the payment of what the Report described as “compromise settlement sums” to financial institutions to which CCI had been heavily indebted for several years. The Report says the settlement of these debts at the end of last year now means that CCI has started 2015 with no long-term liability or bank overdraft “and with no debentures or liens on its assets for the first time since the company’s formation.”
CCI says this circumstance now provides the opportunity for cash flows to be directed in a more substantial manner to
