Business
CUC announces 2006 year-end unaudited financial results
CUC announces 2006 year-end unaudited financial results.
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\n\nLISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK \nEXCHANGE/TRADING SYMBOL: CUP.U\n\nGRAND CAYMAN, Cayman Islands, May 26 /CNW/ - Caribbean Utilities Company,\nLtd. (\"CUC\" or \"the Company\") announced today its unaudited financial results\nfor the year ended April 30, 2006.\n\nInterim Return\n\nCUC submitted to the Cayman Islands Government (\"Government\") on May 23,\n2006 its Interim Return containing its year-end 2006 unaudited results\nindicating that, subject to final audit and review by Government, the Company,\nunder its current Licence, is entitled to a 2.0% rate increase effective\nAugust 1, 2006. This shortfall on Return on Capital Employed (ROCE) is\nprimarily a result of increased operating expenses and infrastructure\ninvestment. CUC will not seek to implement this rate increase, as it agreed\nwith Government that it would freeze basic rates during the period of the\nHurricane Ivan (\"the hurricane\") Cost Recovery Surcharge (CRS) (see \"Cost\nRecovery Surcharge\" below).\n\n>\n\n%SEDAR: 00002251E\n\n\n","length":95383,"tagName":"div"}]