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Supreme Ventures Q4 profit climbs 24.4% YOY

Supreme Ventures Ltd. said its normalized net income for the fourth quarter was 12 Jamaican cents per share, a gain of 24.4% from 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$304.8 million, a gain of 24.4% from J$245.0 million in the year-earlier period.

The normalized profit margin increased to 2.6% from 2.2% in the year-earlier period.

Total revenue rose on an annual basis to J$11.51 billion from J$11.22 billion, and total operating expenses grew year over year to J$11.08 billion from J$10.88 billion.

Reported net income fell 9.8% year over year to J$282.6 million, or 11 cents per share, from J$313.3 million, or 12 cents per share.

For the year, the company's normalized net income totaled 43 cents per share, a gain of 44.1% from 30 cents per share in the prior year.

Normalized net income was J$1.12 billion, a gain of 44.1% from J$778.5 million in the prior year.

Full-year total revenue grew 6.1% from the prior-year period to J$43.85 billion from J$41.31 billion, and total operating expenses increased 5.0% year over year to J$42.19 billion from J$40.17 billion.

The company said reported net income increased 27.3% year over year to J$1.18 billion, or 45 cents per share, in the full year, from J$929.9 million, or 35 cents per share.

As of Feb. 29, US$1 was equivalent to J$121.47.