STATE-OWNED National Gas Company (NGC) yesterday reported group profit after tax of $2.327 billion for 2018, which represents an increase of $1.338 billion or 135 per cent above the 2017 profit after tax figure of $989 million.
In one of his last official acts as the chairman of T&T’s largest indigenous company, business executive Gerry Brooks attributed the group’s improved profitability “to the ongoing execution of the strategic plan to re-engineer the business to drive new levels of productivity, improvements in commodity prices and partial settlement of the Investment Note Certificates that the company held in the CLICO Investment Bank”.
NGC announced that Brooks was resigning as the chairman of the holding company and all of the group companies on which he served as either chairman of director. He also resigned from all State company boards on which he served. All the resignations became effective on June 30, 2019.
Brooks signed off on the 2018 consolidated financial statements on June 30, his last official day in the job.