LJ Williams sees reduction in profits

SHIPPING, manufacturing and distribution company LJ Williams Ltd saw a reduction in profits for the nine months ending December 31, 2023, according to its unaudited financial statements shared on the Trinidad and Tobago Stock Exchange’s website on Tuesday.

Group sales came up to $138.9 million for the period.

Profit before tax was $4.53 million, while profit after tax amounted to $3.8 million for the nine-month period.

For the same period the year before, revenue amounted to $143 million, profit before tax was $14.7 million and profit after tax amounted to $13.9 million.

Chairman Lawford Dupres said most segments were on par with the year before, but the shipping division increased profits by 27 per cent.

"The food and allied division also saw a reduction in profits because of supply chain issues and late deliveries," he said.

Dupres said the division introduced new avenues for products in December.

He added that expenses at its Home Store in Guyana were higher than expected, and that offset sales in Guyana, which had a good year.

He said LJ Williams is expected to open a new branch of The Home Store Guyana by June this year.