Log In

Reset Password

Wedco reports surplus for 2019

The Royal Naval Dockyard (File photograph)

A surplus of more almost $1.5 million was recorded by the West End Development Corporation in 2019, the Government has revealed.

The latest figures revealed Wedco had $141.1 million in assets and $72.4 million in liabilities.

The corporation also reported total revenues of $20.6 million and $19.1 million in expenses – a surplus of $1.48 million.

Lieutenant-Colonel David Burch, the public works minister, released the body’s 2019 annual report in the House of Assembly last Friday.

Colonel Burch highlighted capital works projects carried out over the year, including upgrades to King’s Wharf and the replacement of the Boaz Island Village water and sewage systems.

He added that the Phase 1 solar project was also completed in 2019, which had created savings of up to $30,000 per month.

Colonel Burch added that hard work in Dockyard had paid off with the corporation winning the Cruise Critic’s Choice Destination Award for the fourth year in a row.

He said Wedco had reported a continued increase in revenue and growth in the retail sector over the year.

Colonel Burch added that the quango had completed hurricane damage repairs and worked with smaller contractors to spread the economic benefit of restoration projects.

You must be Registered or to post comment or to vote.

Published February 22, 2021 at 8:00 am (Updated February 21, 2021 at 6:29 pm)

Wedco reports surplus for 2019

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon