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Goddard Enterprises passes $1 billion barrier

Agostini : 05 May 2023 – Agostini's Limited – Acquisition of shares of Chinook Trading Canada Limited by a Subsidiary

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Massive profits for Goddard Enterprises - Barbados Today

Barbadian conglomerate Goddard Enterprises Limited (GEL) has roared back from the COVID-19 pandemic shock with a record 200 per cent increase in after-tax profit for its 2022 financial year ending September 30.In its recently published consolidated audited financial highlights, the 100-year-old company established by the Goddard family from St John outlined that the post-pandemic recovery demonstrated the resilience of the group of companies which owns subsidiaries from South and Central America through to the Caribbean chain.After-tax profits of Goddard Enterprises hit $68.20 million, a significant improvement on the $22.06 million achieved last year.Chief executive officer Anthony Ali and chairman Charles Herbert also attributed the massive increase in profits to the significant turnaround in the performance of the Catering and Ground Handling Division due to the explosion in post-pandemic air travel.

Goddard Enterprises rebound continues - Barbados Today

The surge in profits of Barbados’ last remaining multinational conglomerate has continued in the company’s third quarter, as Goddard Enterprises Limited (GEL) released its nine months of consolidated, unaudited financial highlights.For the period ending June 30, GEL reported after-tax profits of $62.15 million, which was a massive 349.5 per cent jump over the $13.82 million reported for the comparable period in 2021.In the Board Review which accompanied the financials, chief executive officer Anthony Ali and chairman Charles Herbert, described the performance of the group as “strong” given that it came against the backdrop of the COVID-19 pandemic.“The group’s improved performance is mainly driven by a turnaround in our catering and ground-handling division which has recovered from a loss in the prior year and has exceeded all projections for the current year as revenues grew by 104.9 per cent over the comparative period,” Ali and Herbert told shareholders.

Goddard's profits surpass hopes - Barbados Today