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Tax liabilities weigh on Blue Power results

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Improved lumber and soap sales drove revenue for Blue Power Ltd to a new high of $306 million for the three months ending January 31, 2016, an improvement of 15 per cent over the comparable period in 2015.

Company chairman Dhiru Tanna said in the company’s latest report that export sales have increased by more than 51 per cent and a long-time client has resumed purchases on a large scale.

During the quarter ended January, the lumber depot division saw an increase in sales of $28 million from $185 million to $213 million. Sales for the soap division increased by $14 million from $79 million to $93 million.

Overall, for the nine months to January, revenue improved 13 per cent to $905 million with the lumber division showing an increase of 18 per cent and the Blue Power division increasing by two per cent.

Published in the Observer
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