Wigton Wind Farm blows away losses

8:50 pm, Sun September 28, 2014

The State-owned Wigton Wind Farm has eliminated its financial losses after producing a higher than expected amount of  energy to the national grid. in pre-tax profit versus a $68 million  loss in the previous year.Wigton experienced high plant availability at both generating facilities. Over the past 10 years Wigton’s wind farm has saved Jamaica close to $3 billion by reducing oil consumption by more than $400,000 barrels.     During the previous fiscal year Wigton submitted a bid to the Office of Utilities Regulation for the supply of  electricity from renewable energy sources.As a result, the company began implementing plans to expand its operations with an additional 24 megawatt wind energy plant.

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Wigton Wind Farm blows away losses

Ciboney's losses increase

Ciboney’s Losses Increase | RJR News – Jamaican News Online

business Home News Local Regional Arts & Entertainment Archive Sports Business Opinions Videos Classifieds Auto Employment Memorials Obituaries Residential Sale Land Sale Commercial Lease Residential Rental Commercial Rental Commercial Sale Residential Lease Other Sports Foundation (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/all.js#xfbml=1″; fjs.parentNode.insertBefore(js, fjs); }(document, ‘script’, ‘facebook-jssdk’));Ciboney’s losses increase7:54 am, Mon July 14, 2014

Ciboney Group racked up higher losses during its financial year ended May 31.
   
The struggling hotel operator suffered an $8.7 million loss, up from a $3.2 million loss a year ago.
   
During the twelve months, Ciboney earned income of $584,000, versus $1.1 million in 2013.
                                                  

Tweet!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=”https://platform.twitter.com/widgets.js”;fjs.parentNode.insertBefore(js,fjs);}}(document,”script”,”twitter-wjs”); comments powered by Disqus More stories more »Investors in Norman Manley Airport privatisation given end of month deadline7:07 am, Tue July 15, 2014

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Ciboney"s losses increase

LIME sees mobile subscriber base jump, but losses double

Business

Wednesday, August 21, 2013

CONSUMERS flocked to LIME Jamaica’s mobile network but the company still recorded a $808-million net loss for the three months to June, or more than double year-earlier losses.The telecom’s mobile subscriber base jumped nearly one-quarter as rates were slashed by some two-thirds in early June as part of a marketing campaign facilitated by regulatory rate cuts.LIME indicated that total revenues dipped 10 per cent to $4.3 billion due to fixed line and broadband declines but mobile revenues actually grew 10 per cent over the period.Consequently LIME’s management is encouraged by the results.“We continued the encouraging progress in our mobile business with a 10 per cent increase in mobile services revenue over the same period,” stated LIME Jamaica’s CEO Garry Sinclair in a statement accompanying the financials.The reduction in LIME rates actually preceded a regulatory adjustment by the Office of Utilities Regulation (OUR).“We took a strategic decision to launch our anywhere, anytime, anyone talk EZ plan on June 7 prior to the OUR’s implementation of final and further reduced mobile termination rates on July 1,” indicated Sinclair in the statement accompanying the financials. “The new plan has resonated well with customers and has already resulted in a 22 per cent increase in our subscriber base year over year.“We expect to continue increasing market share in the mobile business.”LIME tightly manages information on its network size, and did not disclose its size in the June quarterly report.The OUR in its Cost Model for Mobile Termination Rates – Determination Notice, May 2013 described Digicel Jamaica as holding 84 per cent mobile market share in a two player market which places LIME at 16 per cent prior to the rate cut.LIME cut rates from $6.99 to $2.99 across networks and for international calls to the diaspora since June.The OUR implemented a new mobile termination rate of $1.10 per minute in July which followed resistance and legal fights from stakeholders over a decade.Sinclair explained that the fixed line business continues to suffer declines due to the “diminishing subscriber base and a reduction in the fixed termination rate which was effective from June 2012″.Broadband revenues declined by 11 per cent as a result of net reduction in subscribers and the introduction of low priced packages such as browse and talk, said Sinclair.LIME Jamaica recorded a J$4.9-billion total loss for its March 2013 year end compared with a $20-billion loss a year earlier.LIME Jamaica’s CEO Garry Sinclair said the company expects to continue increasing mobile market share, but gave no indication when the company may exit its profit slump.

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LIME sees mobile subscriber base jump, but losses double