Basseterre, St. Kitts — The TDC Group of Companies held its forty-eighth (48th) Annual General Meeting on Tuesday 16th November 2021, to report on the company’s performance for the period February 1st, 2020, to January 31st, 2021.
Presiding over the meeting, Chairman/CEO Mr. Earle Kelly welcomed shareholders both virtually and in person. The Board of Directors reported: “The declaration of the COVID-19 pandemic in mid-March 2020 placed severe constraints on economic activities in the Federation. The TDC Group rapidly responded to the crisis by establishing a cross-functional COVID-19 Taskforce and have been exemplary in swiftly implementing strict health and safety protocols, by pivoting to embrace remote working by staff and adopting new technologies to enhance both the customer and the employee experiences.”
Changing consumer behaviours, adverse market conditions, and income losses among customers put pressure on sales in certain product lines — especially the tourism and hospitality operations. However, the trading and financial services companies fared better and returned commendable results. The Group generated Profit Before Income Tax from Continuing Operations of $11,225,417 and Profit After Income Tax of $8,007,277 compared to a loss in the prior year. As a result, the company paid shareholders a dividend of six and a half (6.5) cents per share, amounting to $3,380,000.
A signature initiative highlighted was the recent launch of the online shopping website shoptdcgroup.com, described as “expected to be a gamechanger for the TDC Group.” The Executive recorded its profound appreciation to its dedicated staff: “Our ability to operate safely and seamlessly throughout the pandemic-induced disruptions, restrictions and lockdowns is a test of our resolve and strength as a Group. We must, and we will continue to work together for the benefit of all our shareholders and other stakeholders in keeping with our motto: Together We Succeed.”