SOURCE POINTE XPRESS: The West Indies Oil Company held its annual general meeting in St. John’s on Thursday, where the Board of Directors reported a surge in profits, reaching $25 million for the 2023 financial year.
Chief Executive Officer Gregory Georges highlighted that, despite several external challenges beyond the company’s control, various strategies have been implemented to address them. Georges outlined three key focus areas: revenue growth and diversification, optimizing business operations to reduce costs, and enhancing the skills of employees through constant training and upskilling.
“We aim to strengthen our human capital by investing in our employees. It’s not just about attracting talent but also training and retaining them,” Georges stated.
Regarding business growth, Georges emphasized the company’s core activities, including petroleum storage, wholesale, and LPG sales to businesses and consumers. He also mentioned plans to increase profit margins, invest in additional infrastructure like storage tanks, secure long-term deals with current partners, and explore renewable energy investments.
Looking ahead, Georges forecasted profits of $26-27 million for the 2024 financial year, with the potential to increase dividend payments to over $3.00 per share next year.
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Well the evidence has come from the horse’s mouth. WIOC should now stop overtaxing poor people and ease the price of what I consider to be an essential item. You all too greedy
They should raise the price per gallon, this is what you voted for, this is the next level
If you have that monopoly.You had better be showing a profit at the expenses of the people. Showing a $25 million in profits is such a damn ripoff.The gas prices are killing the people wallets.WIOC is owned by the major share holders,the people of Antigua and Barbuda.All of us are paying for that crap at the pumps.
Question to Gregory Georges: Could tell the public at large,if Maria Browne is still on WIOC BOARD. After all,she is a Substantive Minister.Could that be the reason.She is lost in SPACE.
At the end,this scumbag…all the time SMILE.. why? Even the retards know about.
Wid all that profit shareholders can only get $200 and something pon dem investment
WIOC seriously needs to fix all it’s leaky 20 pound gas tank valves. If you check your connection with soapy water you will find that at least half of them have leaky valves. This not only squanders the wealth of the nation but also poses a serious fire hazard.
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