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For the first three months ended March 31 2016, the Group generated revenues of $1,411 million consistent with prior year of $1,404 million. The profit before tax (PBT) of $204 million was also in line with our 2015 PBT of $209 million. Earnings per share (EPS) of $0.80 ($0.80 – 2015) matched prior year.
Improvements realised in our Automotive, Trading and Distribution Segment were able to offset the results of our Insurance and Financial Services Segment, which were lower than last year due to unrealized losses in our local and international investment portfolios. Our overseas subsidiaries showed strong profitability in this first quarter of 2016.
As we progress through the second quarter of our financial year, we are confident that we will achieve our year-end targets.
A.NORMAN SABGA, LLD (Hon.) UWI
Chairman and Chief Executive
Photos from our Breakfast meeting: