A challenging year for Wilson,Sons

Wilsons’ management however, believes that it has met the challenges diligently while managing to deliver a positive year-on-year result which has reaffirmed the soundness and sustainability of its business model. According to the company, it is Wilson, Sons’ solid operational and financial standing built throughout its 172-year history that strengthens its capacity to cope with such crises.

On a year-by-year basis, 2008 net revenues were up by 23.3% to US$498.3m with net revenues at the container terminals in Tecon Rio Grande and Tecon Salvador up by 14.4% despite volumes declining overall by 3.8%.

On the upside, volumes at Tecon Rio Grande were 13.3% higher year on year to 626,408 teu as a result of growth in the volume of frozen chickens and rice. On the downside, container throughput at Tecon Salvador fell by 10.7% to 59, 3712 teu due to a slowdown in export volumes of petrochemicals and auto parts.