2006 - Eastern Caribbean Securities Exchange

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Playing to win in BarbadosThe mission to improve our operations hasreaped a harvest of benefits across the regionand the upgrade at our Arawak Cement Plantin Barbados is no exception. In January 2006, anew automated palletizing and stretch wrappingsystem was put into full operation there. The newsystem has achieved tremendous success withimprovement in almost every area of operation.This automated system has reduced stretch filmusage by 50%, downtime by 100% and hasrendered 50% reduction in accidents as well asa reduction in overall diesel usage.The benefits of investing in this system speak forthemselves. As do the benefits of our regionalupgrade and modernization programme. Successbegets success. And so too, our contribution tothe historic remodeling of the Kensington Ovalplayed a great part in creating the infrastructureto support a world of success in the Cricket WorldCup games.Annual Report 200623
Group Chief Executive Officer’s Report and Management Discussion1.0 Health, Safety and the Environment (HSE)Group Chief Executive OfficerDr. Rollin BertrandThe Group’s HSE record improved in 2006 as theimportance of safety and health continued to beentrenched across the Group. During the year, allsubsidiaries focused on training in Occupational Safetyand Health and the 4th Group HSE Forum was held inTrinidad during November 2006 to discuss contractorsafety management, risk assessment and root causeanalyses. The Group continues to review its systemsand procedures and has implemented a programmeto further instill a “Culture of Safety”. There were nofatalities in 2006.During the year, all subsidiaries focused on mechanismsto continually improve environmental conditions andminimise impacts with particular attention to emissionreduction by the cement plants. To this end, the Groupestablished a milestone in 2006, as all three cementcompanies completed final audits for ISO 14001:2004certification. By year end, both Arawak and TCLachieved certification and Caribbean Cement acquiredits certification in early 2007. RML’s process is in placefor a certification audit during 2007.2.0 Financial Review and AnalysisNet ProfitNet Profit Attributable to Group Shareholdersamounted to $145.7m compared with $160.3m lastyear, the decline due to the absence of tax creditsrecorded in the prior year. Earnings per Share (EPS) is60 cents compared with 66 cents for 2005.RevenueThe TCL Group, in 2006, achieved a notable increase of20% or $289.2m to $1.719 billion in revenue over theprior year. This growth was largely driven by buoyantdemand and price adjustments implemented in thedomestic markets of Trinidad and Tobago and Jamaicaas well as the company’s export markets. These priceincreases became necessary to offset higher energy24
Page 2 and 3: ContentsOur Vision and Mission Stat
Page 4 and 5: Notice of Annual MeetingNotice is h
Page 6 and 7: Consolidated Financial Summary 2001
Page 8 and 9: Share PerformanceTrading Volumes (t
Page 10 and 11: A new record in TrinidadSince the b
Page 12 and 13: Board of Directorsfrom left to righ
Page 14 and 15: Board of Directorsand Director of U
Page 16 and 17: On the ball in GuyanaWhen the crowd
Page 18 and 19: Beyond Boundaries in JamaicaAcross
Page 20 and 21: Group Executive Committeefrom left
Page 22 and 23: Chairman’s Reviewslings by 92%. T
Page 26 and 27: Group Chief Executive Officer’s R
Page 36 and 37: Trinidad Cement LimitedTrinidad Cem
Page 38 and 39: Caribbean Cement Company LimitedCar
Page 40 and 41: Arawak Cement Company LimitedArawak
Page 42 and 43: Readymix (West Indies) LimitedReady
Page 44 and 45: TCL Packaging LimitedTCL Packaging
Page 46 and 47: TCL Ponsa Manufacturing LimitedTCL
Page 48 and 49: TCL Guyana Inc.TCL Guyana Inc. was
Page 50 and 51: Rally ‘round the youthWithin our
Page 52 and 53: Management Proxy CircularREPUBLIC O
Page 54 and 55: Independent Auditors’ ReportTo th
Page 56 and 57: Consolidated Balance Sheetas at 31s
Page 58 and 59: Consolidated Statement of Changes i
Page 60 and 61: Notes to the Consolidated Financial
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Notes to the Consolidated Financial
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Page 89:
Proxy FormPLEASE INDICATE WITH AN
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2006 - Eastern Caribbean Securities Exchange

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