Margaritaville records additional financial losses

Tourism attraction Margaritaville Turks has recorded another quarter of  financial losses.

For the first three months of  its 2021/2022 fiscal year, the company registered a net loss of  US$282,000 - this was 
an improvement from the US$438-thousand  loss reported in August 2020.

The company earned no revenue, except for funds from the disposal of  items to prevent spoilage.

Margaritaville Turks says the return of  cruise ships will strengthen its rebound.

Caribbean Cream 

Caribbean Cream earned less profit at the half  year mark compared to the same period in 2020.

For the six months to August 31, the company earned net profit of  $61. 4 million down from $74 million  last year.

However, revenues for the period were up $143 million, amounting to just over $1 billion   

Caribbean Cream says increased administrative expenses and the no movement days weighed heavily on its results.


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