Sagicor predicts more tough times

The chairman of the Barbados-based financial services group, Sagicor, is predicting more difficult economic conditions in the Caribbean for next year.



Terrence Martins’ comment follows an assessment of the company’s half yearly figures.



Net income for the six-month period ending June 30 was US$40.4 million, which represents an 11 per cent fall over the corresponding period last year.



However the company said its Caribbean operations recorded solid performances despite the challenging environment.



Sagicor operates in 21 countries in the Caribbean, Latin America, the UK and the US.