3 months ago
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The listing of A.S. Brydens Holdings Limited on the Trinidad & Tobago Stock Exchange, TTSE, is in its final stages, CEO Richard Pandohie has said.
The company already trades on the Jamaica Stock Exchange, having listed by introduction in November 2023 following its 2022 acquisition by Seprod Limited of Jamaica, and is going through a similar process in Trinidad, which is its home market.
The Trinidad & Tobago Securities Exchange Commission, TTSEC, has already approved the listing.
“We are now only awaiting final approval from the TTSE, which we hope to receive before the end of August,” Pandohie said, at the company’s annual general meeting held online on Tuesday.
Brydens Group is majority owned by Jamaican company Seprod Limited. Its operation spans various Caribbean countries, inclusive of its home base, Jamaica, Barbados, St Lucia, Guyana and St Vincent & the Grenadines, with more to come.
Reporting on the company’s performance, Pandohie noted that in 2024, Brydens grew its sales revenue by 32 per cent but profit declined by 54 per cent due to the financing costs related to its long-term investments.
Brydens Group recently secured majority holdings in Caribbean Producers Jamaica Limited and Stansfeld Scott in Barbados, adding 785 new team members in the process and taking the post-acquisition headcount to 2,300, Pandohie reported.
“The top line tells the story of scale, while the bottom line reflects the cost of bold action. We are laying the foundation in anticipation of significant acceleration in the short to medium term,” he said.
Brydens Group, which is in expansion mode, is developing a new distribution centre in Trinidad, spanning 249,000 square feet and costing US$25 million. It’s due for completion in February 2026.
The new hub will also have 7,900 square feet of cold storage.
“That warehouse that we’re building will become the hub for our operations in that part of the region,” Pandohie told the Financial Gleaner after the meeting.
Guyana is also getting a new warehouse, spanning 72,000 square feet, to keep pace with demand in one of the fastest-growing markets; while St Vincent and Barbados are expanding warehouse facilities for greater throughput, Pandohie said.
At CPJ, the company is upgrading its manufacturing facilities to ramp up supplies of food and beverage products to regional markets, inclusive of its meat and the shrimp processing lines.
Those upgrades are happening alongside the rolling out of a new enterprise resource planning system across the CPJ Group, the latter being the continuation of a US$3.4 million project started by the previous owners.
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