BARBADIANS’ STRONG APPETITE for local ice cream has turned out to be good news for BICO Limited’s bottom line.
The long-standing manufacturer is reporting an 82 per cent increase in profits after tax, earning $343 422 in net income by the time its financial year ended last September 30, compared to $188 496 in 2013.
Executive chairman Edwin Thirlwell detailed the positive performance this morning during a Press conference at BICO’s Harbour Industrial Park headquarters.
He attributed the improved performance to an 14 per cent increase in ice cream sales and an eight per cent decrease in energy costs. It was also achieved without the company having a presence in the export market.
Additionally, while noting that these results were dampened by a 15 per cent decline in revenues at BICO’s Harbour Cold Store last year, Thirlwell and general manager Jo-anne Pooler expected the $1 million the company was expending on refurbishing the facility to achieve HACCP Certification by the end of this month to pay off in the coming months.(SC)