NASSAU, BAHAMAS- FOCOL Holdings, the BISX-listed petroleum products supplier, saw a $3.4 million increase in its total net profit and comprehensive income for the first quarter of its financial year.
According to the company’s unaudited financial results for its first quarter, total net profit and comprehensive income for the three months ended December 31st, 2022, was $5.7 million compared to $2.3 million in the same period the previous year.
According to FOCOL Holdings’ Limited Chairman, Sir Franklyn Wilson, “Management is encouraged by the first quarter results which are trending in the right direction. Should this trend continue, we are confident that our earnings will return to pre-pandemic levels in the near future.”
The company’s total net profit and comprehensive income for the year ended September 30, 2022, was $21.4 million compared to $16.5 million in the previous year. The earnings were supported by the strong rebound in the local tourism sector and overall improvement in the global economic environment.
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