Our profit for the quarter increased by 10.5% from $36.2m in 2012 to $40.0m in 2013 and on a year-to-date basis we are $110.6MM ahead of the prior year, attributable in part to strategic restructuring decisions aimed at focusing the business on core activities.
Increased expenditure has been incurred to support future growth globally across all product categories. We have closed the period in a surplus position of cash vs. borrowings, after meeting debt service and dividend costs of $327.9MM and $47.4MM respectively. Dividends of $0.23 paid to date in 2013 reflect an increase of $0.11 over the same period in the prior year.
We anticipate a successful fourth quarter ahead as we embark upon our peak season of trade.
October 29, 2013