Express Business Filler #1

THIS WEEK, we at Bourse review the financial performance of Scotiabank Trinidad and Tobago Ltd (SBTT) for its 9-month fiscal period ended July 2019 and Prestige Holdings Ltd (PHL) for its 9-month period ended August 2019. SBTT would have advanced on account of lower comparable tax expenses, while PHL’s profitability improved through higher revenues and more effective cost management.

Scotiabank T&T Ltd (SBTT) Scotiabank T&T Ltd (SBTT) reported Earnings per Share (EPS) of $2.97 for the 9M 2019 period, an 8.3% year-on-year (YoY) increase from the EPS of $2.74 reported in the prior comparable period. SBTT generated $991.2M in Net Interest Income in 9M 2019, a moderate 2.8% ($27.4M) improvement from the $963.8M earned in 9M 2018. Other Income declined 1.8% or $7.7M YoY, amounting to $413.5M for the period. 

RECOMMENDED FOR YOU

A DRAFT Tobago medium-term policy framework, from a team chaired by economist Dr Terrence Farrell, has recommended the establishment of up to three all-inclusive resorts as one of its key initiatives to drive Tobago’s development in the next four years.

IN the last fortnight, two Canadian banks concretised the perception that the interest of banks from that country in the Caribbean region is definitely waning, if not coming to an end.

FIFTEEN years after selling their beloved LB’s Supermarket at the corner of Eastern Main Road and Cane Farm Road, Arouca, and moving to Diego Martin, where they opened Westbees Supermarket, the Bachew family has returned to their hometown.

BP, one of the largest investors in T&T’s natural gas sector, says that it expects the global natural gas market to continue being oversupplied for the next two years.

The Caribbean sugar industry is at a crossroads. Free market pressures, operational inefficiencies and sugar producers’ inability to meet manufacturers’ demand for refined white sugar have been a major source of frustration, resulting in an over-reliance on extra-regional sugar imports.