A Time To Build Caribbean Cement Company Limited Annual ...

DIRECTORS’ REPORT
The Directors submit this report and the audited Financial Statements for the year ended
December 31, 2004.
FINANCIAL RESULTS
Results for the year are shown on pages 29 to 60 in the Financial Statements. These results
reflect the operations and financial position of the Company and its subsidiaries, Jamaica
Gypsum & Quarries Limited, Rockfort Mineral Bath Complex Limited and Caribbean Gypsum
Company Limited.
Highlights are set out in the table below:
HIGHLIGHTS OF THE YEAR
2004 2003
$ million $ million
Turnover 5,452.76 4,016.64
Net Profit 842.36 454.88
Total Net Assets 2,771.12 2,102.12
Dividend proposed 59.58 59.58
Dividend paid 59.58 59.58
Profit per stock unit 99 cents 53 cents
DIVIDENDS
The Directors recommend that at the Annual General Meeting the stockholders declare a final
dividend of seven cents per stock unit payable out of the profits of the Company in respect of
the year under review. This dividend to be paid on June 27, 2005 to stockholders registered at
the close of business on May 16, 2005. This payment will cost $59.58 million.
AUDITORS
The retiring auditors, Ernst & Young, having signified their willingness to continue in office,
will be deemed to be reappointed in accordance with the provisions of Article 155 of the
Company’s Articles of Association.
DIRECTORS
The Directors in office at March 18, 2005 are as follows:
TEN LARGEST STOCKHOLDERS AS AT DECEMBER 31, 2004
TCL Nevis Limited 558,688,942
Trinidad Cement Limited 71,876,497
Scancem International (St. Lucia) Ltd. 42,187,482
Scotia Jamaica Investment Management Limited – A/C 542 11,199,960
National Insurance Fund 5,755,833
Pan Caribbean Merchant Bank (a/c J1996) 4,984,620
Gleaner Superannuation Fund 4,657,179
Manchester Pension Trust Fund Limited 4,424,375
West Indies Trust Co. Ltd. a/c WT109 3,571,714
Trading A/C – Pooled Equity Fund No. 1 3,003,314
TOTAL 710,349,916
SENIOR MANAGERS’ STOCKHOLDINGS AS AT DECEMBER 31, 2004
Paul Lue Lim 48,500
Chester Adams 9,000
Maxwell Brooks 6,466
Dalmain Small 1,125
TOTAL 65,091
No Director or any person/company connected to him/her has a stockholding interest in
the Company.
The Directors wish to express thanks to the management and staff for their continued
commitment and hard work and for the progress achieved in 2004.
On behalf of the Board of Directors, dated this 18th day of March, 2005.
BRIAN YOUNG
Chairman
Brian Young
Rollin Bertrand
Hollis Hosein
Leopoldo Navarro
Yusuff Omar
Judith Robinson
Paul Stockhausen
Ernest Williams
The Directors due to retire by rotation in accordance with the provisions of Article 96 of the
Articles of Association are Mr. Hollis Hosein and Mr. Paul Stockhausen who being eligible offer
themselves for re-election.
2004 ANNUAL REPORT 8 9
2004 ANNUAL REPORT