The owner of Bermuda Paint Company, Devonshire Industries, has endured a tough six-month trading period to the end of September, with profit down 13.64 percent and net sales dropping 2.88 percent.

Net income declined from $335,987 for the same six months last year to $290,170.

Meanwhile, net sales went into reverse from $1,905,533 last year to $1,850,675 in 2007.

Earnings per share, similarly dropped from 77 cents to 66 cents, representing a fall of 14.29 percent, while total and net assets declined 3.41 percent from $3,086,514 to $2,981,170, and 4.81 percent from $3,001,030 to $2,856,706, respectively.

Operating expenses were also up, this time by 9.79 percent from $542,284 to $595,349.

But, on the plus side, dividends paid remained the same at $438,000.