Revenue and profits dipped at the West India Biscuit Company Limited (WIBISCO) in the first half of its 2026 financial year, following challenging market conditions and operational difficulties across both local and export segments.
This was detailed in the published chairman’s report and condensed financial statements for the six months ended February 28.
WIBISCO recorded a $4.37 million net profit in the period, down from the $4.9 million in net income earned in the same six months in 2025. Revenue was $39.3 million, compared to $40.5 million in the first six months of financial year 2025.
Chairman Chloe Bermudez said: “The first half of the 2026 financial year presented challenging market conditions and operational difficulties across both local and export segments.
“Revenue for the six months ending February 2026 totalled $39.3 million, three per cent below the prior year.
“The shortfall was due to reduced demand in some of our product categories and to various challenges in export markets, driven largely by logistics constraints, shipment timing issues, and changing consumer dynamics.”
Bermudez said notwithstanding these challenges, “export markets remain an area of focus despite the short-term disruptions which affected our shipment volumes”.
She stated: “Management is actively working with regional partners to normalise supply flows and to rebuild momentum over the remainder of the year.
“Operating expenses were tightly controlled below the prior year, helping to moderate the impact of reduced revenue. Further, we remain focused on maintaining quality production and efficiency.”
“Operationally, the company made important progress during the period. Key manufacturing issues were addressed through specialist technical support, resulting in improved equipment reliability and more consistent production outcomes,” the chairman reported.
“Packaging upgrades and process improvements were also implemented to support product quality and long-term efficiency.”
She added: “The company also maintained its commitment to employee wellbeing and workplace safety, with continued focus on training, engagement and a proactive safety culture.”
The good news for shareholders was that the biscuit manufacturer’s directors declared an interim dividend of 25 cents per share payable this month.
Bermudez said WIBISCO’s balance sheet “remains strong, and it is well positioned to expand its facilities through a disciplined capital programme”.
“This approach will support the additional capacity required and [to] remain aligned with the company’s growth strategy,” she explained.
“Looking ahead, management’s priorities are clear regarding recovering revenue momentum in both local and export markets and in continuing to improve manufacturing performance.” (SC)
The post WIBISCO revenue dips in 2026 appeared first on nationnews.com.