(CNS Business): Despite continuing declines in kilowatt-hour (kWh) sales, CUC has announced improved earnings for the first quarter of the year compared to 2012. Grand Cayman’s monopoly power supplier stated that the company’s continued focus on controlling costs and improving efficiencies throughout the organization had helped with the significant increase in net earnings of $2.9 million, an increase of $1.0 million, or 53%, when compared to $1.9 million for the three months ended March last year. Given the hardships endured by CUC’s customers in Cayman, however, the firm’s efficiencies, lower general, administration and financing costs and increases in other income may not seem so impressive. Read more on CNS Busness
