The Dominica Electricity Services Limited (DOMLEC) has raked in some $12.88-million in profits after tax deductions for the 2015/2016 financial year.
This indicates a five percent increase over profits made in the previous financial year, the company’s manager, Bertilia McKenzie told state-owned DBS Radio.
She said the figures were announced at the company’s Annual General Meeting (AGM) held last week.
McKenzie, stated that the meeting went well and left the shareholders were pleased with the results for 2016.
“All our key metrics which we used to measure performance indicated that DOMLEC had a successful year. We indicated to our shareholders that we had made a profit of 12.88-million dollars after tax, a five percent increase over the profit figure for 2015,” she said.
According to McKenzie, not only did profits increase by five percent, the number of sales also increased by five percent while keeping all expenses at a comfortably low level.
“We also were able to keep our expenses down as well. The sales increased, and we were able to manage our expenses quite well,” she added.
She said that customers consumed more electricity in comparison to the previous year by 4.6 percent, which is described as “excellent news for the company,” and Dominica by extension.
“This is excellent news for the country as a whole because our results indicated that our reliability to our customers increased by 42 percent, and we also had carried out a survey last year and the customers did indicate to us that our service quality also improved,” she remarked.