From the Maui News
Sugar production at Hawaiian Commercial & Sugar Co. on Maui was off significantly in the first quarter of this year compared to same quarter last year, but profits rose 35 percent in the company’s agribusiness sector, according to Alexander & Baldwin’s first-quarter report released Wednesday.
Only 1,900 tons of sugar were produced in the first quarter, compared to 6,700 tons in the same period last year. But profits reported were $3.5 million for the quarter, compared to $2.6 million in the first quarter of last year.
“The improvement (in profits) was due principally to a $1 million improvement in operating margins due to higher power and lease revenue and lower operating expenses from the sale of the coffee operations in the first quarter of 2011,” an A&B news release said…
Sugar production at Hawaiian Commercial & Sugar Co. on Maui was off significantly in the first quarter of this year compared to same quarter last year, but profits rose 35 percent in the company’s agribusiness sector, according to Alexander & Baldwin’s first-quarter report released Wednesday.
Only 1,900 tons of sugar were produced in the first quarter, compared to 6,700 tons in the same period last year. But profits reported were $3.5 million for the quarter, compared to $2.6 million in the first quarter of last year.
“The improvement (in profits) was due principally to a $1 million improvement in operating margins due to higher power and lease revenue and lower operating expenses from the sale of the coffee operations in the first quarter of 2011,” an A&B news release said…
