Blue Power Group (BPOW) Records Creditable Performance

Earnings at the end of BPOW’s financial year stood at $104Mn (EPS$1.84) compared to $47Mn in the same period last year, an increase of 121%. The contribution of the Lumber Depot division to this tally was $61Mn, improving by 111% over the previous year while the Blue Power Soap division recorded a 137% year-on-year improvement.

Combined sales for the year ended April 30, 2013 amounted to $1,045Mn compared to$863Mn in the prior year, representing a 21% increase. For the year, the Lumber Depot division achieved sales of $742Mn, an improvement of 20% while the Blue Power soap division moved by 25% to $303 million.

The enhancement in both sales and profits in the Lumber Depot division was due to the award of a significant supply contract by an international agency and the strategic management of purchases of materials for resale. The overall increase in sales and profits of the Blue Power soap division was achieved largely as a result of a significant increase in sales of bathing soaps.