CUC increased profits by $2.7M in 2013

| 07/02/2014

(CNS Business): Grand Cayman’s power provider had a profitable 2013, according to results released this week. CUC said its net earnings for the twelve months ending 31 December were $20.4 million – a $2.7 million increase on 2012 earnings. A 1% increase in sales, lower general and administration and maintenance costs and an increase in the base rate paid by its customers all went to boosting the firm’s coffers. With positive results in the last quarter of the year in particular, CUC president and CEO Richard Hew was also looking ahead to the future. He said with the onset of renewable power generation combined with the replacement of older diesel generators by more efficient ones, customers could look forward to price, reliability and environmental benefits. Read more on CNS Business

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Category: Local News

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