Plipdeco revenue increases to $155m

THE Point Lisas Industrial Port Development Corporation Ltd (Plipdeco) has reported an increase in revenue up to $155.6 million for the six-month period ending June 30, 2021.

In its unaudited financial statement, it said this figure was an increase when compared to the same period of 2020, when revenue was $146.3 million.

Gross profit also increased to $109.4 million compared to $102.4 million for the same period of 2020.

However, it reported a decrease in profit of $26.8 million compared with the same period last year, which was $61.9 million.

It said, “While there has significant disruption in the general international and local trading conditions as a result of the coronavirus pandemic, covid19 did not have a material impact on the group as the group’s activities are considered essential services in Trinidad and Tobago.”

It also noted that on May 18, 2021, dividends of 11 cents per share, which amounted to $4,539 were paid in full for the year ending December 31, 2020.

Likewise, it said dividends of 14 cents per share for the period ended December 31, 2019, were paid in full on May 22, 2020.