Longstanding ice cream producer BICO Limited has transformed its financial performance, recording its first profit since 2010.
Executive chairman Edwin Thirlwell delivered the positive news this morning during a Press conference at the company’s Harbour Industrial Park headquarters.
BICO turned what was a $24 555 after tax loss in 2012 into a $374 244 profit by the time its financial year ended on September 30 last year, he reported.
Ice cream sales increased by six per cent and the company’s cold store facility also recorded nine per cent revenue growth in that period. During the first two months of the current financial year the performance was even better, as BICO recorded 10 per cent increase both in ice cream sales and for its cold storage service.
“Despite the doom and gloom surrounding everyone in Barbados, it is endemic really, we can’t complain because we have actually had quite a good year despite everything, but it’s not easy. You would notice that we are almost doing handstands and cartwheels to make sure that if there is any business out there we are getting it,” Thirlwell said.(SC)
