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Financial News

Jul 2014 Financial News

Berger Paints turns Q1 loss into profit

Jul 22, 2014

Berger Paints Trinidad Ltd turned its first quarter (Q1) loss last year into a profit this year, according to the company’s unaudited financial statements released yesterday.

Berger turned a profit of $715,000 for the three months ended June 30, up from a loss of $179,000 for the same period in 2013. The company’s financial year ends March 31.

In its audited results for the 12 months ended March 31, 2014, the company posted a $2.9 million profit.

Its Q1 revenue was $14.6 million this year, up from $13.4 million last year. Expenses fell, but only slightly from $13.52 million in Q1 2013 to $13.47 million in Q1 2014.

Profit before tax was $973,000 in Q1 2014, which is an about turn from the $179,000 loss before tax in Q1 2013.

“Berger Paints’ goals for this year include continuing focus on customer centricity, protecting the environment and being innovative on the market. As our financial results show these initiatives have enabled our company to improve year on year. We are committed to providing our customers with quality products and servicing,” said Berger chairman John Andrews in his comments.

 

Source:
Trinidad Guardian, A17
Thursday July 22, 2014