NBC Beats Financial Projections Months After Launch

The National Bus Company may still be working through a few early growing pains, but its finances are already moving in the right direction. Just months after launching, the company says it is operating with a surplus after earning more and spending less than projected in July and August. Financial Advisor Emil Pinelo says those stronger-than-expected results have put the NBC ahead of where it expected to be at this stage.

 

Emil Pinelo, Financial Advisor, NBC

“ We have been able to successfully confirm that there are two months in this year alone that NBC has provided a net profit for its operation in just a short time. So I’d like to commend the hard work of everyone that has created that. And I commend you guys because I know a lot has gone into it, and without a doubt, NBC has a lot more to accomplish over the years. In March of this year, when NBC took over, as COO Codd explained, there were several operational hiccups that came along and NBC had to incur those costs for it to be able to support the continuance of services. We provide a very important service to the general populace of Belize and it’s a very serious matter for the country. As of July and August, as you can tell, the income was one-point-five percent above what we had budgeted for. Expenses for NBC were fourteen-point-six percent below what we had budgeted for during that period. I can say for sure we reduced the net loss that we had projected in the first couple months by increasing and tightening the different areas.”

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

Watch the full newscast here: