Operating

Saint Mary Cocoa

Not separately reported

Fermentation and drying, buying from 340 registered farmers. Revenue 6.8 million, 96 employees. Managing director: Delroy Whyte.

Status: Operating
Accountable: Named managing director
Office hours: 08:30 to 16:30, monday to friday

Other companies operating

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Clarendon Flexible PackagingFilm extrusion and printing, half of it for the group. Revenue 11.4 million, 172 employees. Managing... Harbour Cold StorageThird-party cold storage and blast freezing near the port. Revenue 9.1 million, 118 employees. Managing director:... Blue Ridge Coffee ProcessingWet and dry processing in Portland. Revenue 14.2 million, 214 employees at year end. Managing director:...

Investor and governance questions

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Who owns Ucorpora?

Fifty-eight per cent is held by the founding family through a single named vehicle, twenty-two per cent by two institutional shareholders and the balance by about four hundred individual holders. The full substantial-shareholder list is in the annual accounts with the percentages.

How independent is the board?

Four of the seven directors are independent by the local governance code, the audit committee is chaired by one of them, and the roles of chairman and chief executive have been separate since 2009. Attendance at every meeting is published per director.

Where are the audited accounts?

In the statements section, as filed, for every year since 2004, unedited. The related-party schedule is in the accounts with amounts rather than described in a note, and directors’ remuneration is given per individual.

Do the companies trade with each other?

Yes. About half the packaging company’s output goes to the other three, priced at a published internal rate reviewed annually by the audit committee. That rate and the volumes are in the related-party schedule.

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