Government Policies Driving Results: Record Local Business Performance Signals Strong Economic Growth in Saint Kitts and Nevis
Basseterre, Saint Kitts and Nevis, March 21, 2025 (SKNIS): The Government of Saint Kitts and Nevis’ continued focus on economic stability, diversification, and private sector support is yielding measurable results, as two of the Federation’s largest multi-sector corporations—TDC Group and S.L. Horsford & Co. Ltd.—have reported record revenue and profit performances for 2025.
These historic results reflect the tangible impact of the Government’s economic policies, which have created a stable and enabling environment for business expansion, investment, and sustained growth across key sectors.
As two of the largest employers in the Federation, TDC Group and S.L. Horsford & Co. Ltd. play a critical role in driving economic activity, job creation, and income stability. Their strong performances therefore serve as a clear indicator of the effectiveness of the Government’s economic strategy and the overall strength of the national economy.
The TDC Group delivered its strongest performance in history, with profit before tax rising to EC$18.68 million and revenue reaching EC$127.35 million. This growth was supported by expansion across retail, financial services, insurance, and logistics—sectors that have benefited from improved business confidence and policy-driven economic diversification.
Similarly, S.L. Horsford & Co. Ltd. recorded historic highs, with revenue reaching EC$186.7 million and profit before tax increasing to EC$18.62 million. The company’s performance reflects strong consumer activity, improved supply chain conditions, and a business environment strengthened by strategic government interventions.
Together, these results signal a private sector that is expanding, confident, and increasingly efficient—driven in part by targeted government investments, sound fiscal management, and a clear commitment to sustainable economic development.
Prime Minister of Saint Kitts and Nevis, and Minister of Finance, the Honourable Dr. Terrance Drew, welcomed the positive performance of the private sector, noting that it reflects the success of the Government’s policy direction.
“When our businesses are thriving, it means our people are working, our economy is growing, and our future is becoming more secure. These results are a clear indication that the policies we have put in place to stabilise and diversify the economy are working,” the Prime Minister Drew said.
He added that the government remains committed to strengthening partnerships with the private sector, expanding opportunities for entrepreneurship, and ensuring that economic growth translates into tangible benefits for all citizens.
At a time of global economic uncertainty, the ability of Saint Kitts and Nevis’ largest companies to achieve record results underscores the resilience of the Federation’s economy and the effectiveness of its policy framework.
Dr. Drew said that the Government of Saint Kitts and Nevis will continue to pursue a development path that prioritises economic expansion, job creation, and long-term national prosperity, ensuring that growth is both inclusive and sustainable.
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