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Carreras fiscal Q3 profit falls YOY

Carreras Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 13 Jamaican cents per share, a decline of 67.3% from 39 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$619.9 million, a decrease of 67.3% from J$1.90 billion in the year-earlier period.

The normalized profit margin fell to 19.8% from 51.7% in the year-earlier period.

Total revenue fell 11.5% on an annual basis to J$3.24 billion from J$3.66 billion, and total operating expenses rose year over year to J$2.30 billion from J$692.6 million.

Reported net income decreased 65.0% from the prior-year period to J$763.2 million, or 16 cents per share, from J$2.18 billion, or 45 cents per share.

As of Feb. 12, US$1 was equivalent to J$115.56.