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Caribbean Utilities Company, Ltd Announces Unaudited Results for the three and nine months ended September 30, 2018
Caribbean Utilities Company, Ltd Announces Unaudited Results for the three and nine months...
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\nCaribbean Utilities Company, Ltd Announces Unaudited Results for the three and nine months ended September 30, 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nGRAND CAYMAN, Cayman Islands, Nov. 2, 2018\n\n\n\nCaribbean Utilities Company, Ltd. is listed for trading in United States dollars on the Toronto Stock Exchange under the trading symbol \"CUP.U\".\n GRAND CAYMAN, Cayman Islands, Nov. 2, 2018 /CNW/ - Caribbean Utilities Company, Ltd. (TSX: CUP.U) (\"CUC\" or \"the Company\") announced today its unaudited results for the Third Quarter ended September 30, 2018 (all figures in United States dollars).\n\n \n \n\n\n\n\n\n\n\n \nNet earnings for the three months ended September 30, 2018 (\"Third Quarter 2018\") totalled $9.2 million, an increase of $1.5 million when compared to net earnings of $7.7 million for the three months ended September 30, 2017 (\"Third Quarter 2017\"). Net earnings for the nine months ended September 30, 2018 totalled $18.9 million, an increase of $0.6 million when compared to net earnings of $18.3 million for the nine months ended September 30, 2017. The increase in net earnings for the three and nine months ended September 30, 2018 is attributable to higher electricity sales revenues and other income, and lower general and administration expenses.  These items were partially offset by higher depreciation and transmission and distribution costs.\nAfter the adjustment for dividends on the preference shares of the Company, earnings on Class A Ordinary Shares for the Third Quarter 2018 were $9.1 million, or $0.27 per Class A Ordinary Share, compared to earnings on Class A Ordinary Shares of $7.6 million or $0.23 per Class A Ordinary Share for the Third Quarter 2017.  \nAfter the adjustment for dividends on the preference shares of the Company, earnings on Class A Ordinary Shares for the nine months ended September 30, 2018 were $18.6 million, or $0.56 per Class A Ordinary Share, compared to earnings on Class A Ordinary Shares of $18.0 million or $0.55 per Class A Ordinary Share for the nine months ended Sept...