Electric light company Belco?s sales for the first five months of the year were up on the same period in 2003, despite the adverse effects of Hurricane Fabian.

A letter to shareholders from Belco CEO and president Garry Madeiros revealed that total kilowatt hour sales for the first five months of 2004, had seen an increase of 0.83 percent.

The increase was said to be driven by residential and small commercial sales.

?Demand (large commercial) sales decreased (by 5.43 percent year on year) primarily due to tourist properties remaining closed early in the year as they completed repairs and renovations necessitated by damage caused by Hurricane Fabian in September 2003,? the letter said.

Residential sales for the period through May were said to be 4.7 percent ahead of last year.

?Approximately 1.7 million additional kilowatt hour sales are attributed to new metered connections, indicative of additional housing units coming on line. Consumption also continues to grow as a result of greater use of residential air conditioning. Small commercial sales have also increased 6.15 percent during the first five months of 2004, compared with 2003 due to increases in the customer base and consumption,? the letter said.

Sales levels for Belco subsidiary Bermuda Gas were also reportedly impacted by hotel closures after damage from Fabian.

?Hotel restaurants remaining closed through the second quarter of 2004, as well as the timing of sales promotions, and the timing of completions of new building projects in both the commercial and residential sectors all contributed to a slight 3.2 percent reduction in overall results through May.

?Propane gas sales are 0.3 percent behind the same period last year. Appliance sales are 9.1 percent lower and service and parts sales are down 4.3 percent,? Belco said.

Belco also declared a dividend of 38.5 cents per share for the second quarter.