Chebu Trading records turnaround in sales

By LARRY ANDREW
CHEBU Trading recovered from a K3.8 million loss in 2015 with a strong turnaround in 2016, according to the managing director Fabian Chow.
He said seasonal flow of sales hit a new level in the second half of 2016.
The total second-half sales went up to K6,846,251 – compared to the first-half sale of K5,362,116.
The 2016 total sales was K12,208,367 compared to the  2015 sales of K7,174,242. It is a 70.2 per cent increase.
“The strong growth in the second half was also predicted after revision made last August that was stated in the November 2016 board meeting,” Chow said.
He said the major cost blow-ups in 2016 were fuel bills, maintenance, wharfage charges, stevedoring and printing.
However, with 10 per cent increase in passengers fare for 2017, the management is confident that it will contribute significantly to budget repair on the bottom line of the business.
Chow said despite tough trading conditions, the board expected the Chebu Shipping Company Limited to record a 25 per cent growth in 2017.
“We fully expect management strategies, tricks and improvement to deliver,” he said.
“We have accepted short-term pain for long-term gain.
“Being a good corporate citizen has meant that we have delivered services to the public day-after-day and week-after-week.”