Sterling Products Limited (SPL) registered a profit of $173 million for 2015, down 16.6% on the previous year.
According to its Audited Financial Report for the year ended December 31, 2015 and published in the April 1, edition of Stabroek News, revenues declined from $3.392 billion in 2014 to $3.079 billion last year. Administrative expenses appreciated from $308 million in 2014 to $325 million last year. Distribution and marketing expenses also rose from $431 million in 2014 to $438 million last year.
Profit for the year before taxation was $261 million compared to $301 million in 2014. After-tax profit for 2015 was $173 million compared to $208 million in 2014.
Basic earnings per share in dollars for 2015 was 11.37 in 2015 compared to 13.63 in 2014.
Turnover was also down. In the edible fats, soap, detergent and ice cream sector, turnover on the local market was $2.6 billion in 2015 compared to $2.8 billion in 2014. Overseas, turnover was $163 million in 2015 compared to $203 million in 2014. As for branded products, turnover moved from $308 million in 2014 to $272 million last year.
Dividends paid totalled $80.1 million in 2015 compared to $76.3 million in 2014.
