FOCOL records $21.5 million net income

FOCOL records $21.5 million net income
Focol plant in Grand Bahama

NASSAU, BAHAMAS — Freeport Oil Company (FOCOL) saw a net income of $21.5 million for the nine months ended April 30,2020.

In its 2020 third quarter results, the BISX-listed company noted it recorded $17. 5 million for the same period last year.

FOCOL Chairman Sir Franklyn Wilson said: “The impact of the novel coronavirus (COVID-19) on the Bahamian economy and our business since March 2020, has garnered Management’s full attention.”

Wilson said: “Management has implemented the appropriate COVID -19 procedures to ensure the safety of our customers and staff .  To date, FOCOL’ s overall financial performance remains strong and we are hopeful that upon the reopening of the tourism industry we can sustain our results.”