Investor Highlights
2012 Highlights:
•The Neal & Massy Group of Companies continued to perform strongly throughout 2012.
•Profit Before Tax from Continuing Operations grew by 25.4 per cent from $640 million to $802 million, which is a record for the Group.
•The Group also demonstrated healthy Third Party Revenue growth of 7.6 per cent above EPS from Continuing Operations in 2011.
•Substantially reduced losses from Discontinued Operations resulted in an overall EPS of $4.87, almost five times the overall EPS of $1.02 reported in 2011.
•The Group is approaching the end of its restructuring, arising from the BS&T acquisition and the fallout of the 2009 global economic recession.
•Almond Beach Club was sold to Elite Island Resorts in July 2012 and meaningful progress is being made on the sales of the remaining Casuarina and Beach Village properties.
•Cash Flow from operating activities increased from $525 million to $697 million and the Group’s cash position increased from $1.1 to $1.3 billion.
•Your Board is pleased to declare a final dividend of $1.05, which when added to the interim dividend of $0.45, gives a total dividend for the year of $1.50, which is 16 per cent higher than 2011 dividend of $1.29.
•The Group’s forward-looking strategies include improving market share in existing businesses, expanding its retail presence in Trinidad, Barbados and Guyana, capturing synergies and efficiencies in its operations across geographies and expanding into new sectors, such as petrochemical and downstream manufacturing.