BUSINESS BRIEFS
ML Macadamia reports profit
Advertiser Staff and News Services
Hilo-based ML Macadamia Orchards LP yesterday posted a first-quarter profit of $346,000, or 5 cents a share, versus a year-ago loss of $100,000, or a penny a share.
The higher profit was mainly a result of a larger than normal first-quarter harvest of macadamia nuts.
First-quarter revenues more than doubled to $3.4 million, compared with year-ago revenues of $1.5 million.
ML Macadamia is acquiring competitor MacFarms of Hawaii LLC. Shares of ML Macadamia fell 5 cents, to close at $5.20 a share on the New York Stock Exchange.
GAS PRODUCER EXPECTS GROWTH
Macquarie Infrastructure Co., owner of The Gas Co. in Honolulu, said population growth in Hawai'i will be the primary driver of increases in its gas production and distribution business as it promotes synthetic natural gas and liquid petroleum products as an environmentally friendly fuel source.
The company included comments about the business as part of an outlook it provided to shareholders.
Macquarie Infrastructure said it expects continued strong performance from its airport services segment and that performance at its bulk liquid storage terminal business should improve.
PACIFIC BEACH UNION RALLIES
Workers at the Pacific Beach Hotel yesterday rallied in front of the hotel as part of their yearlong effort to win their first union contract.
Workers at the hotel in 2004 voted to join the International Longshore and Warehouse Union. The union was officially recognized in August 2005 and contract negotiations began later that year. About 150 union members participated in the rally.
Union officials say that despite receiving two raises since 2005, Pacific Beach Hotel workers still earn $3 to $4 an hour less than workers at comparable hotels.
