Cocoa fix boosts GEL earnings

Goddard Enterprises Limited’s (GEL) annual profit has surged by $24.3 million, driven by a major turnaround in the Barbados conglomerate’s cocoa processing company in Ecuador.

With net income of $76.8 million, and earnings per share reaching 27.9 cents during the financial year ended September 30, the group’s shareholders will be paid a final dividend of three cents per share at the end of February.

Chairman Charles Herbert and managing director Anthony Ali reported on GEL’s performance...