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West Indian Tobacco Company Ltd (Witco) delivered stronger financial results for the first nine months of 2026, posting an after-tax profit of $72.9 million—a 20% increase from $60.9 million in the same period the previous year, according to its unaudited interim results published by Trinidad Express.
Profit before tax climbed by $14.1 million, or 17%, to reach $97 million, according to Chairman Ingrid Lashley. The company described the performance as reflecting a positive trend, though the gains came against a backdrop of mounting domestic challenges.
Revenue for the nine-month period totalled $332.4 million, representing a marginal 0.1% increase year-over-year. The company attributed this modest top-line movement to shifting domestic brand volumes and a strategic push into export markets. Witco expanded shipments to Guyana and Suriname, helping offset weakness in its core Trinidad market.
The domestic business continued to face significant headwinds. Higher excise taxes and the expansion of illicit trade have intensified pressure on the legitimate tobacco market in Trinidad, constraining performance despite the company’s efforts. Management credited focused commercial execution and improvements to the company’s distribution network with supporting domestic brand performance.
Looking ahead, Witco’s leadership signalled a commitment to market execution, route-to-market enhancements, operational efficiency, and productivity gains while investing in its product portfolio and pursuing sustainable growth opportunities. The company’s board recommended an interim dividend of $0.10 per ordinary share, payable November 30 to shareholders on record as of November 11.
Witco also announced the appointment of Narinejit Pariag as a director, effective October 28. Pariag brings over 30 years of leadership experience in finance, risk, and governance across energy, manufacturing, and services sectors, and holds an MBA from the University of the West Indies.
Witco is a major regional tobacco company operating in Trinidad and Tobago and the wider Caribbean. The company has faced mounting regulatory and competitive pressures in recent years as governments across the region have increased excise taxation on tobacco products and enforcement efforts against illicit trade have intensified.
Witco’s performance and regional expansion strategy reflect broader business dynamics across the Caribbean, where legitimate manufacturers are navigating higher taxes, illicit competition, and shifting market conditions while seeking growth in neighbouring territories.
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