By Mya Quamie

Copyright newsday

Eric Solis Marketing Ltd (Solis) has almost doubled the net profit earned in the first quarter of 2026 financial year (May 1-July 31), earning $1.2 million.

In its unaudited first quarter results, Solis said the profit was driven by revenue growth of over 80 per cent.

In the chairman’s remarks, Angella Persad said this growth includes the results of its new subsidiary, Business Equipment and Interiors International Ltd.

Solis said its capital and reserves also doubled from $15.3 million in 2024 to $31.4 million in 2025.

Cash also improved, moving from an overdraft of $1.8 million in 2024 to a positive cash balance of $4.7 million.

Despite the positive financials, Solis said it continues to be restricted by the shortage of foreign exchange and management has had to optimize procurement in order to generate maximum profits.

Solis said it has also made progress in other areas of its business with a 93 per cent overall service rating.

“We continue to express appreciation to our staff and management who drive our business, our shareholders, our customers, our long-standing suppliers and our bankers,” Persad said.

“It pleases me to use this opportunity to announce a quarterly dividend of six cents per share based on the results of the first quarter for FY26.”

Persad said the dividend would be paid on October 9 to all shareholders on record as of September 26.

“This is the third consecutive quarter in which we are paying a dividend, and will bring total dividends paid to shareholders to over $2 million since listing the company on the TT Stock Exchange one year ago.”