RBTT earnings up 40 percent

Peter July, group chairman, RBTT Financial Holdings Ltd, recently revealed that the RBTT group recorded earnings attributable to shareholders of $323 million for the half-year ended September 30, 2003, an increase of $93 million or 40 percent over the corresponding period last year.

The strong performance in the first quarter improved further in the second quarter with profits moving up by 20 percent from $147 million to $176 million. Sixty-two percent of operating profit for the period was earned outside of TT as compared to the 43 percent in the previous year. The profitability of the company’s operations in Trinidad and Tobago was slightly below forecast and earnings from the Eastern Caribbean Group, which were better than in the previous year, also fell short of financial targets for this period. The Board of Directors has declared an interim dividend of 39 cents per share as compared to 28 cents last year. This will be paid on November 25 to shareholders on record as of November 12, 2003.