Energy Services Company is expected to turn a profit this year.

President and CEO, Garry Madeiros has advised shareholders in his quarterly report that the company is beginning to see results of last year's investment come to fruition.

He said: "Contracts either completed, underway or awarded so far in 1997 are valued at $852,550. In addition, several of these contracts have the potential to lead to further work with the organisation involved.'' In its first year of operation, BESCO, lost a higher than expected $720,447.

BESCO is providing a plan for customers to reduce energy and cut costs, by changing their approach to electricity use and employing the latest in technology.

The company intended to begin with retro-fits on existing commercial buildings, showing existing companies how they can reduce their costs.