TDC Takes In EC $12 Million In Profit For 2006

Basseterre, St. Kitts – Nevis
August 14th 2007 (CUOPM)
For Immediate Public Release

The St. Kitts-Nevis-Anguilla Trading and Development Company (TDC) Group of Companies is reporting a pre-tax profit of EC$11.7 million in 2006, compared to EC$11.5 million the previous year.

The pre-tax profit of EC$11,700,510 is the biggest ever in the company’s 34th year of operations.

TDC said that after paying Corporation Tax of EC$3, 980,204 and other interests, its profit is EC$7,720,306 compared to EC$8,213,981 in 2005.

The company is attributing the success of TDC due to growth experienced in the local economy last year largely as a result of an increase in stay over visitors, construction and other activities on St. Kitts related to preparations for Cricket World Cup and the construction of several villa and condominium projects, expansion work at the Medical University of the America on Nevis.The report documented improved performance in several areas including the Automotive Divisions, Home and Building Depots, City Drug Store (2005) Ltd, the Shipping Agencies, TDC Rentals in St. Kitts and TDC Rentals (Nevis), the St. Kitts and Nevis Finance Company Ltd. (FINCO), Ocean Terrace Inn (OTI), TDC AirlineĀ  Services Limited, St. Kitts Masonry Products Limited and MAICO, its associated insurance company in Anguilla.

The company has been profitable over the years with pre-tax profit of EC$3 million in 1992; EC$4.3 million in 1993; EC$4.7 million in 1994; EC$5.4 million in 1995; EC$6.5 million in 1996; EC$7.1 million in 1997; EC$8.1 million in 1998; EC$7.4 million in 1999; EC$6.5 million in 2000, EC$5.6 million in 2001, EC$7.9 million in 2002, EC$8.6 million in 2003, EC$11.2 million in 2004 and EC$11.5 million in 2005.