Witco reports 9 % growth in 2025 1st quarter

THE West Indian Tobacco Co Ltd (Witco) recorded a $14.7 million or nine per cent increase in profits, according to its unaudited interim financial results for the period ending March 31, 2025.

Witco reported a revenue of $83 million for the first quarter, up from $74.6 million for the first quarter in 2024.

It recorded a gross profit of $42.5 million, up from $40.5 million for the same period in 2024.

Operating profit is $19.6 million, up from $18.9 million and profit before tax was recorded at $19.9 million, a 1.4 per cent increase in profits as compared to the same period the year before when it made $19.6 million.

Chairman Ingrid A Lashley said the company had moved into a multi-category portfolio with the introduction of Vuse e-cigarettes two years ago. She said the company would continue to explore opportunities for exploration in new products.

“We acknowledge an overall decline in sales in the domestic market but are encouraged by some improvement in the premium segment and increases in the export markets,” Lashley said.