L.J. Williams Limited, a distinguished distributor, faced a decline in group sales for the nine months ending December 31st, 2024. The total sales figures settled at $129.7 million, a drop from $138.9 million in 2023. In a recent report to shareholders, Lawford Dupres, the Chairman of L.J. Williams Limited, disclosed that profits before tax also decreased to $3.145 million, down from $4.537 million in the previous year.
Despite these setbacks, the Food and Allied Division of the company managed to uphold stable sales, showcasing improved profitability even amidst challenges like shipping delays and port congestion during the bustling Christmas season. However, the Shipping Division faced difficulties during this period, primarily due to sluggish personal effects shipments that typically peak at year-end.
Here are some key points highlighted by Dupres regarding the different divisions within the company:
- The Food and Allied Division sustained stable sales with improved profitability despite obstacles.
- The Shipping Division confronted challenges due to slow personal effects shipments, resulting in reduced revenue.
- The Retail Department, particularly The Home Store, faced tough market conditions with low consumer discretionary spending during the holiday season.
- The Home Store in Trinidad underwent restructuring including the closure of two locations by the end of December 2024.
- The locations in Guyana, on the other hand, showcased positive growth and profitability, with promising outlooks for the future.
As the company moves forward, Dupres foresees ongoing challenges related to foreign exchange shortages and logistical issues in the upcoming year. Despite these hurdles, he remains optimistic about the future, citing the restructured operations of The Home Store in Trinidad, the steadfast performance of the Food and Allied Division, and the promising growth in Guyana.
Overall, L.J. Williams Limited is poised for improved results in the next fiscal year ending March 2026. Despite the setbacks faced in 2024, the company is determined to overcome challenges and capitalize on opportunities for growth and success.
