Having divested of its iconic department stores and shifted more to financial services, Cave Shepherd & Co says the group is in a much stronger position with cash and cash equivalents of $45 million.In its report to investors and stakeholders, the Barbadian group of companies, headed by chief executive officer John Williams and chairman Sir Geoffrey Cave spoke of the group’s growth.The Cave Shepherd brand, which is more than 100 years old, posted half-year net profits of $4.66 million for the period ending June 30, when compared to $3.48 million for the corresponding period of 2021.Sir Geoffrey and Williams, in their recently- published Directors’ Report accompanying the financial highlights, described the first half of the financial year as “a strong start. . . with all our businesses making a positive contribution”. They indicated that profit attributable to shareholders was $3.8 million, compared to $2.4 million for the first half of 2021.
