Caribbean Container Inc.

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What it is

Caribbean Container Inc. (CCI) began commercial operations in 1983 via its Box Plant, initially trading under the name SAPIL and from 1999 as Caribbean Container Inc. Its main business is the manufacture of a wide range of ecological corrugated cardboard packaging — the printed brown boxes in which Guyana’s farms, fisheries, and factories ship their goods.

Located at Farm, East Bank Demerara, CCI has been deemed a pioneer in the recycling industry within CARICOM and operates the only Paper Recycling Mill in the Caribbean Community. The Paper Recycling Plant was commissioned at the end of 2002 and operated for some 15 years until the Board suspended operations of the Mill in 2017, after which the company focused on its box plant — buying in paper rather than making it.

CCI’s packaging is well received across CARICOM, with forty percent of production exported to CARICOM customers. The company provides direct employment for 145 staff across a range of disciplines and indirect employment for approximately 100 persons who provide contract services, in particular waste paper collection.

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Who owns it

The company, initially a state entity, was privatised in 1992 and saw a number of changes in majority ownership up until January 2007, when the holding company of the majority interest — Demerara Holdings Inc. — was acquired by Technology Investments and Management Inc. Technology Investments and Management Inc., acting through Demerara Holdings Inc., is therefore the ultimate controlling shareholder; the exact current ownership percentage is not disclosed in available primary sources.

In earlier filings, Demerara Holdings Inc. held some 129 million of the 152 million issued shares of the company — roughly 85% at that time — with the remainder a thin free float on the GASCI secondary list. The shares are not actively traded on GASCI, which limits price discovery and means the market cap figure above should be read as indicative rather than precise.

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Who runs it

Patricia Bacchus serves as Managing Director and Board Chair. She holds the roles of CEO, Managing Director, and Chairperson simultaneously — an unusual concentration of authority that gives her both the strategic and operational reins.

She has led the company since at least 2014, overseeing its long journey from near-insolvency to record profits.

No separate CFO is disclosed in available public sources. The Board appointed Ms.

Lauren Dundas as Executive Director with effect from January 28, 2022.

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The money, in plain words

CCI recorded an after-tax profit of GYD 296 million (≈ USD 1.42 million) for the year ended December 31, 2024, a 46% increase from GYD 202.8 million (US$976 k) in 2023. This GYD 93.2 million (US$448 k) jump marks the company’s strongest performance to date, according to Managing Director and Board Chair Patricia Bacchus.

The GASCI data then shows EPS rising further to GYD 2.26 (US$0.01)for FY2025, implying full-year FY2025 after-tax profit of approximately GYD 364 million / USD 1.75 million — another record (our calculation: 2.26 × ~160.9 million shares). The stock trades at about 68 times earnings (a price-to-earnings ratio of ~67.7×), a valuation that reflects very thin liquidity rather than a hot growth stock; almost no shares change hands on any given day.

CCI attributed its 2024 profitability improvement to market stabilisation of raw material costs. Added income was derived from two property leases valued at GYD 90.2 million (US$434 k) — meaning the company earns meaningful rent alongside its manufacturing, a useful earnings diversifier.

Full-year revenue for 2024 is not published in available sources; the disclosed H1 2024 figure of GYD 778.3 million (≈ USD 3.7 million) represented a 2% dip in turnover against the same period in 2023, even as profit surged, because raw material costs fell faster than prices.

The Board proposed a final dividend of GYD 0.65 (US$0.00)per share for 2024, and has since proposed GYD 0.75 (US$0.00)per share for 2025 — a dividend that has risen every year since 2020, signalling management’s confidence in the cash flow. At the current share price of GYD 153, (US$0.74)that yields roughly 0.5% — modest, but the payout growth trend is more telling than the yield itself.

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What it is doing now

In her Chairperson’s report, Bacchus said CCI continues to grapple with a shortage of skilled labour, which she noted is driving up wages across the manufacturing sector. That labour-cost pressure is the main drag on margins as Guyana’s oil-driven construction boom competes for the same workers.

In the first half of 2024, the company directed GYD 48.6 million (US$234 k) towards capital additions — a 28.3% increase over the same period in 2023 — suggesting it is investing in equipment partly to reduce its dependence on scarce labour.

The Board proposed a final dividend of GYD 0.75 (US$0.00)per share for 2025, subject to approval at the 41st Annual General Meeting to be held on May 22, 2026 — a 15% increase on the prior year payout, reflecting continued earnings momentum.

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What to watch

• Revenue disclosure. CCI publishes only half-year unaudited figures in the local press; a full audited annual report with revenue has not surfaced in any publicly accessible online source. Investors who need the complete picture must request it from GASCI or the Guyana Securities Council directly.
• Labour costs vs. margin. Guyana’s oil boom keeps wages rising; any sign that the wage bill is squeezing the profit-per-box is the central operating risk to watch.
• Ownership transparency. The exact current shareholding of Technology Investments and Management Inc. through Demerara Holdings Inc. is not publicly confirmed in recent filings. A shareholder who controls ~85% of a thinly traded stock effectively sets price and policy; knowing the precise current figure matters.
• Paper Mill restart or sale. The recycling mill that once defined CCI has been idle since 2017. Any decision to restart it — or to monetise the asset — would be a major strategic event for a company of this size.
• Lease income sustainability. Two property leases contributed significantly to 2024 profit. If those leases expire or are not renewed, earnings could fall even without any change in the core packaging business.

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This is news, not investment advice.