{"id":256140,"date":"2020-09-21T11:32:26","date_gmt":"2020-09-21T15:32:26","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=256140"},"modified":"2020-09-21T11:32:26","modified_gmt":"2020-09-21T15:32:26","slug":"domlec-earns-1-6-m-in-profits-for-2019","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/gender\/domlec-earns-1-6-m-in-profits-for-2019\/","title":{"rendered":"DOMLEC earns $1.6 M in profits for 2019"},"content":{"rendered":"
\"\"
DOMLEC crew at work after Hurricane Maria<\/figcaption><\/figure>\n

Dominica’s sole electricity company, DOMLEC, is reporting $1.6 million in profits for 2019.<\/p>\n

That’s according to Financial Controller of the company, Clyde Edwards.<\/p>\n

\u201cA challenging year being the year following the hurricane and as a company we were not able to generate a profit in that year; we actually closed off the year with a loss of 2.5 million dollars and we did indicate that we would strive to bring the company back to a level of profitability and for 2019 we were able to achieve that,\u201d he said. \u201cSo I think we landed at about 1.6 million-dollars profit.\u201d<\/p>\n

Edwards described the fact that DOMLEC was able to move from a major loss in 2017 to a reduced loss in 2018 and to generate a profit in 2019 as “a very good achievement.\u201d<\/p>\n

He said the company’s rebuilding process after the ravages of Hurricane Maria in 2017 , started immediately\u00a0 after the hurricane and continued into 2018 “and even in 2019 we still found ourselves trying to get our system back to the level it was prior to the hurricane.\u201d<\/p>\n

Edwards the rebuilding and infrastructure were the highlights of the company’s operations.<\/p>\n","protected":false},"excerpt":{"rendered":"Dominica’s sole electricity company, DOMLEC, is reporting $1.6 million in profits for 2019. That’s according to Financial Controller of the company, Clyde Edwards. \u201cA challenging year being the year following the hurricane and as a company we were not able…","protected":false},"author":15,"featured_media":190832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[36,262,11,235,9],"tags":[],"class_list":["post-256140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-development","category-gender","category-general","category-homepage-carousel","category-news"],"acf":[],"yoast_head":"\nDOMLEC earns $1.6 M in profits for 2019 - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/gender\/domlec-earns-1-6-m-in-profits-for-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DOMLEC earns $1.6 M in profits for 2019 - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Dominica’s sole electricity company, DOMLEC, is reporting $1.6 million in profits for 2019. 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