GEL pins recovery on vaccines, tourism
Article by
May 27, 2021
The half-year profits of Goddard Enterprises Limited (GEL) are down significantly, and the shareholders are feeling it in their dividend cheques which have fallen by almost 35 per cent.
This was revealed in the latest consolidated financial highlights of the Barbados-based regional conglomerate, for the six months period ending March 31.
According to the recently published financials, profit from operations was down by almost 65 per cent, falling from $35.05 million for the comparable period last year, to $12.36 million for the first six-months this financial year.
Net income for the period fell by 58.4 per cent, down from $30.66 million in 2020 to $12.76 million for the review period this year. Importantly, earnings per share for investors were down by 34.5 per cent, falling from 8.7 cents per share last year to 5.7 cents per share this year.