Business Plan
NAME: George Daly
COURSE NAME: CONTEMPORARTY DEVELOPMENT IN BUSINESS MANAGEMENT
COMPANY: WEST INDIAN TOBACCO COMPANY LIMITED
STUDENT ID: 07935721
SUMMARY
West Indian Tobacco Trinidad Company Limited (W.I.T.C.O.) was established on September 23rd 1904 by Mr. John Phillips, entrepreneur and founder of the tobacco business in Trinidad and Tobago. WITCO is a 50.13% subsidiary of British American Tobacco plc which is incorporated in the UK. In 1970 WITCO became a public company with 20% of its shares owned by local investors. In 1960 Demerara Tobacco Co. Ltd became a public entity but has since transferred its shares to WITCO in 1997.
WITCO’s factory which is located east of Trinidad is just about eight miles from Port of Spain the capital of Trinidad. The company employs just over 200 persons and operates with a functional type structure. The brands that are manufactured by the WITCO are: Mt D’or, Du Maurier, Benson and Hedges, Hollywood, Broadway, Bristol, Embassy, Tacoma, Rothmans, Morello , Pall Mall,Broadway and Dunhill with Du Maurier maintaining its position as the leading brand and continuing to perform well given the 2009 environment.
WITCO operates both locally and regionally in a monopolistic type of market where they enjoy 99%of the market share. Their marketing strategy is to retain their customers through their brand loyalty and win new customers from competing brands using those brands as the flagship.
Over the years the company has managed its resources successfully and has enjoyed significant increases in both share price and profits after tax despite the economic meltdown that the world has been experiencing. For the past five (5) years profit after tax has increased from $116m in 2005 to $258m in 2009 with its share price increasing from $23.02 per share in 2005 to $32.39 in 2009 respectively. WITCO’s commitment to the principles of Corporate Responsibility throughout their business is evident by being a
COURSE NAME: CONTEMPORARTY DEVELOPMENT IN BUSINESS MANAGEMENT
COMPANY: WEST INDIAN TOBACCO COMPANY LIMITED
STUDENT ID: 07935721
SUMMARY
West Indian Tobacco Trinidad Company Limited (W.I.T.C.O.) was established on September 23rd 1904 by Mr. John Phillips, entrepreneur and founder of the tobacco business in Trinidad and Tobago. WITCO is a 50.13% subsidiary of British American Tobacco plc which is incorporated in the UK. In 1970 WITCO became a public company with 20% of its shares owned by local investors. In 1960 Demerara Tobacco Co. Ltd became a public entity but has since transferred its shares to WITCO in 1997.
WITCO’s factory which is located east of Trinidad is just about eight miles from Port of Spain the capital of Trinidad. The company employs just over 200 persons and operates with a functional type structure. The brands that are manufactured by the WITCO are: Mt D’or, Du Maurier, Benson and Hedges, Hollywood, Broadway, Bristol, Embassy, Tacoma, Rothmans, Morello , Pall Mall,Broadway and Dunhill with Du Maurier maintaining its position as the leading brand and continuing to perform well given the 2009 environment.
WITCO operates both locally and regionally in a monopolistic type of market where they enjoy 99%of the market share. Their marketing strategy is to retain their customers through their brand loyalty and win new customers from competing brands using those brands as the flagship.
Over the years the company has managed its resources successfully and has enjoyed significant increases in both share price and profits after tax despite the economic meltdown that the world has been experiencing. For the past five (5) years profit after tax has increased from $116m in 2005 to $258m in 2009 with its share price increasing from $23.02 per share in 2005 to $32.39 in 2009 respectively. WITCO’s commitment to the principles of Corporate Responsibility throughout their business is evident by being a