B.E.L. shows solid financial results

Belize Electricity Limited has reported a year of solid financial performance. At its annual general meeting, held Wednesday night, the company revealed that for the first time revenues from energy sales jumped the hundred million dollar mark. After tax profits also reached a record, rising eight percent to fourteen point one million dollars for the financial year ending on December thirty-first. The company’s impressive performance was made possible by continued strong growth in demand for power from both the commercial and residential sectors. Total energy sales increased by ten point three percent to three hundred and eight gigawatt hours. That demand is expected to increase by another eight to nine percent during 2004, led by continued growth in tourism, aquaculture and rural electrification. Viewers who would like to access B.E.L.’s full annual report can do so at the company’s website. The address is www.bel.com.bz.