Sterling Products Limited’s (SPL) after-tax profit for the first half of this year was $99.1m, up from last year’s figure for the corresponding period of $83.9m.
In its interim financial report for the period ending June 30, 2024 in Wednesday’s Stabroek News, SPL’s Chairman Andrew Pollard SC said that profit before taxation was $141.5m compared to $119.9m in 2023, a rise of 18.1%.
Revenue generated by the company was $2.61b compared to $2.46b for 2023, an increase of $151m or 6.13%.
Expenses for the period totalled $707.1m compared to $607.3m for the corresponding period last year.
Pollard said the rise in expenses was due mainly to higher salaries and maintenance costs for the sales fleet and marketing and distribution expenses.
