分类： business

Trinidad and Tobago’s recent alcohol duty increases have unexpectedly created a competitive advantage for the nation’s artisanal wine producers, transforming economic challenges into opportunities for growth. The substantial tax hikes implemented in October 2025—which doubled excise duties on spirits from $79.25 to $158.50 per litre of pure alcohol—have dramatically elevated prices of commercial liquors, effectively leveling the pricing field for small-batch local producers.

This fiscal shift has catalyzed a notable consumer migration toward locally crafted wines, as reported by several family-run enterprises. Jabari Mayers of Wine and Whimsy observed that previously hesitant customers are now embracing local products: “The price increases for shelf drinks are forcing even those not originally inclined to support local in that direction.” His wife Shantelle noted that their specialized production methods using wine yeast rather than conventional yeast previously positioned their products at premium prices, but the tax adjustments have narrowed this gap significantly.

The movement extends beyond mere price considerations. Jenissa Williams of Williams Wines identifies a cultural transformation: “People have developed a genuine appreciation for local wine across all age demographics. Younger consumers are increasingly participating in wine culture through tastings and sip-and-paint events.” Her business, sustained for over eleven years, utilizes indigenous fruits including sorrel, guava, passion fruit, and lay lay cherries, offering both full-size and sample-size bottles to accommodate consumer preferences.

Retail expansion is simultaneously accelerating. Sisters Lynissa and Lyndi Jordan of Aurora Bitayson Ltd reported unprecedented interest from chain-store retailers at the 2025 Trade and Investment Convention, necessitating production scale-ups to meet distributor demands. They attribute this growth to both market trends and institutional support through government-sponsored wine-making courses, with one virtual program attracting over 300 participants.

These enterprises represent more than commercial ventures—they embody cultural preservation. Williams traces her winemaking expertise to childhood observations of her great-grandmother’s techniques, while Aurora Bitayson honors their grandmother through eponymous branding while diversifying into fruit syrups, concentrates, and skincare products.

The industry’s vitality reflects broader global patterns. PriceWaterhouseCoopers’ 2025 Global Family Business Survey revealed that 25% of family enterprises achieved double-digit sales growth despite economic contractions, underscoring the resilience of purpose-driven, family-rooted businesses that leverage long-term investment strategies and community reputation.

Massy Group has announced exceptional financial performance for fiscal year 2025, achieving a record-breaking profit after tax of $766.3 million. The Trinidad-based conglomerate demonstrated robust growth with third-party revenue reaching $15.8 billion and net cash value climbing to $1.67 billion, signaling strong financial health across its diversified portfolio.

The 14% year-over-year profit increase from $674 million in 2024 reflects enhanced operational efficiency and strategic portfolio management. According to the December 18 financial disclosure, the company’s success stemmed from significant advancements across multiple sectors including retail, gas production, automotive machinery, and financial services.

Integrated retail emerged as the dominant revenue generator, contributing over $9 billion—a 4% increase from previous periods. The motors and machines division achieved $3.73 billion in revenue despite an 18% decline in pre-tax profits to $186 million. Notably, gas products demonstrated remarkable profitability with an 8% profit surge to $385 million, even as revenue decreased by 6% to $2.03 billion.

Shareholders benefited substantially from the company’s performance, with total dividends per share rising 5% to $17.70. Earnings per share jumped 9% to $36.49, representing a 9.8% earnings yield. The company’s share price appreciated by 5%, delivering investors a total return of 12.18%.

These financial milestones coincide with significant leadership changes as James McLetchie assumed the role of Group President and CEO on October 1, succeeding David Affonso after his three-decade tenure. The organization also welcomed Ivette Zuniga as Chief Financial Officer and Ryan Latchu as CEO of the motors and machines portfolio.

Chairman Robert Riley characterized 2025 as “a year of progress and renewal,” emphasizing the company’s investments in technology, innovation, and talent development. Despite these achievements, the Consumer Affairs Division’s December 18 supermarket price evaluation identified Massy as having some of the highest prices nationally, particularly in meat, fruits, and dry goods categories across over 40 assessed supermarkets.

The procurement profession stands at a pivotal crossroads, according to industry veteran John Dickson, who delivered a compelling keynote address at the Chartered Institute of Procurement and Supply’s (CIPS) Caribbean Conference and Awards 2025. Speaking before regional supply chain leaders at Port of Spain’s Hyatt Regency on December 10, Dickson argued that procurement must fundamentally transform from its traditional cost-cutting role into a strategic driver of organizational value, resilience, and competitive advantage.

Dickson employed a powerful iceberg analogy to illustrate how most organizations perceive procurement: “The one-ninth that a business sees is typically about cost reduction and cash generation,” he noted, emphasizing that the profession’s true depth and strategic importance remain largely submerged from executive view.

The conference, hailed as the Caribbean’s premier gathering of procurement specialists, convened professionals across government, energy, telecommunications, logistics, and finance sectors. Sessions explored cutting-edge topics including artificial intelligence implementation, data analytics applications, and supply chain risk management.

Drawing from four decades of industry experience, Dickson outlined procurement’s evolutionary trajectory: from 1990s cost control mechanisms through 2000s process efficiency reforms to 2010s digital transformation. The current era, he suggested, represents “true intelligent integration” powered by AI, automation, and machine learning technologies.

However, Dickson cautioned against technological determinism, stating: “Procurement needs to align intelligence with purpose. It’s not enough to say technology will do everything for us.” He challenged delegates to consider whether their function merely influences spending patterns or actually shapes business strategy at the highest levels.

His address resonated with broader regional concerns about supply chain vulnerabilities. Earlier panels had examined Caribbean-specific challenges including hurricane exposure, fuel price volatility, and global trade disruptions, proposing mitigation strategies such as redundancy planning and predictive analytics.

Dickson emphasized that procurement must evolve from reactive problem-solving to predictive scenario planning. While acknowledging that not all risks can be anticipated, he insisted the profession bears responsibility for organizational protection in increasingly volatile operating environments.

Highlighting his experience during AstraZeneca’s unprecedented eight-month COVID-19 vaccine development, Dickson demonstrated how crisis collaboration transcended traditional supplier negotiations. “That whole concept of having a common goal was critical for that ecosystem to come together,” he recalled, underscoring how shared purpose accelerated innovation.

This informed his perspective on sustainability, which he framed not as competitive advantage but as essential risk mitigation: “I do see sustainability as a competitive disadvantage if you don’t engage with it.” He advocated for collective action within industries sharing supplier networks.

Addressing emerging threats, Dickson highlighted cybersecurity as a critical procurement concern, referencing major attacks that have cost organizations hundreds of millions. He positioned procurement as central to resilience-building through supplier vetting, market analysis, and risk anticipation.

Despite technological advancements, Dickson firmly rejected the notion of human obsolescence: “Human-centric talent isn’t going away. It’s going to shift. It’s going to be different.” He encouraged leaders to embrace reverse mentorship from digitally-native junior colleagues.

Concluding with an agricultural metaphor, Dickson urged organizations to focus on foundational elements: “Looking after the soil. Cultivating the soil, look after your people. Care for your people. Know your people.” For a profession historically defined by savings metrics, he envisioned a future prioritizing strategic integration, purposeful collaboration, and the translation of intelligence into consequential business decisions.