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ACI generated revenue of HRK 139 million

first_imgThe unaudited business results of the company Adriatic Croatia International Club for the activity of marina dd (ACI) show that the largest Croatian nautical company in the first nine months of 2020 generated 139 million kuna in operating revenues. At the same time, EBITDA for this period amounts to HRK 55 million.  Looking at revenues from the annual connection, the results of ACI’s operations in the first three quarters are almost at the level of revenues of HRK 79 million in the period from January to September 2019.  After generating HRK 52 million in annual berth services in the first six months, revenue amounted to HRK 78 million by the end of September. “I am pleased to say that ACI’s business results are significantly better than initial predictions and expectations. We have mostly succeeded in that because we have been rationally disposing of capital and managing the Company since the beginning of our mandate. What we can also be proud of is the fact that, despite the crisis, we managed to keep the same number of sailors on an annual berth as in 2019.”, Said the President of the Management Board of ACI dd Kristijan Pavić. “At the moment, we are focused on adjusting the business, preserving the company’s liquidity and continuing to implement a sustainable business policy. The operation of ACI marinas is significantly affected by concession agreements, which in most marinas last until 2030. Extending the concession period is a prerequisite for the realization of long-term investments of the Company, but also for expanding the range of services, raising quality and achieving better business results. “, States Kristijan Pavić.center_img ACI dd manages 22 marinas with over 5.800 berths and is the carrier of nautical tourism in Croatia, which accounts for as much as one and a half billion euros in revenues of the entire tourism sector. Photo: ACI In the previous period, the started investments were successfully completed and significant projects were realized, such as obtaining a building permit for the project of reconstruction of the Sorkočević castle. last_img read more

Jamaica’s Finance Minister says no new taxes

first_imgThe Jamaica government says it will introduce no new taxes when it presents the national budget to Parliament next month.Finance and Public Service Minister, Audley Shaw, said revenue inflows have been doing “fairly well” this year, and that the out-turn at the end of December 2017 was J$13 billion ahead of projections.“Happily, with this trajectory, it is not the government’s plan to introduce a new tax package in the new Budget that is coming,” Shaw told the Mayberry Investments Limited’s monthly Investor Forum.Focus on non-tax initiativesHe said the government will, however, focus on implementing non-tax initiatives to ensure that importers in particular “pay their fair share at the wharves.”Shaw, who is expected to present his budget on either February 8 or 9th, said to this end, the Jamaica Customs Agency has been instructed to take the necessary steps to acquire the requisite modern state-of-the-art X-ray equipment to enable them to scan all incoming containers.100 percent scanning“We are going to (scan) all barrels and containers 100 per cent….  Everything coming in will be scanned, because all I want is a fair system where all persons pay their duties,” he added.Meanwhile, Shaw said the government plans to lobby the International Monetary Fund (IMF) to further reduce the Primary Surplus Balance.The primary surplus is the minimum set aside in the Budget for debt payments. This was a stipulation under the previous IMF Extended Fund Facility, and remains under the successor Precautionary Standby Arrangement.“We had gotten a relaxation… from 7.5 per cent, which is where it (initially) was, down to seven per cent, and when the time is appropriate, we will seek to get it further down to 6.5 per cent and then six per cent. Of course, the more relaxation you have of the Primary Surplus is the more money you will have for capital expenditure,” Shaw said.e also advised that Jamaica’s debt is expected to further decline to 107.1 per cent of gross domestic product by the end of the 2017/18 fiscal year on March 31.last_img read more