A local biscuit manufacturer is ramping up efforts to meet American and British food safety standards as it seeks to boost its export potential.
In reporting on its financial performance for the six-months ending February 28, 2018, Chairman of the West India Biscuit Company Limited (WIBISCO) C. David Bynoe said “the company continues the implementation of measures and processes to ensure compliance with the Food Safety Modernization Act (FSMA).
“This Act is a requirement for all manufacturers and businesses exporting to the United States.
“Compliance will enable the business to satisfy all regulations expected for export to developed markets and will make us more competitive globally.
“The company will also be seeking the British Retail Consortium (BRC) certification later this year and this is also in alignment with the FSMA,” Bynoe added.
Based on its condensed statement of income, revenue from WIBISCO’s operations for the half-year increased from $27.89 million as at February 2017 to $30.13 million for the same period in 2018.
Comprehensive income for the half-year reached $4.52 million, a slight increase on the $4.21 million for the comparative period last year.
“The major priorities for the business over the next six months are revenue generation, cost optimization and maintaining the quality of our products. Various strategies continue to be implemented to reduce operating expenses and it is expected that the recent installation of new wrapping equipment will improve our plant efficiencies,” the WIBISCO chairman pointed out.