Barbados’ biggest conglomerate Goddard Enterprises Limited (GEL) says its current financial year is showing some promise following a disappointing after-tax loss in 2011.
Martin Pritchard, managing director of GEL, said the company’s management had hoped that “the worst was behind us” last year and no one “would have predicted that at the end of [2011] we would be in a similar position”.
However, after a $5.31 million after-tax loss, Pritchard told employees through the company’s newsletter The Goddard Enterpriser that “there is some light as we move through the tunnel of this recession”.
He added: “The first two months of our new fiscal year so far are looking promising and are showing positive growth.”
“Hopefully we can keep this momentum going forward into 2012,” he told the conglomerate’s workers.
Read the full story in today’s WEEKEND NATION.
