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Honey Bun Ltd. fiscal Q1 profit falls YOY

Honey Bun (1982) Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was 2 Jamaican cents per share, a decrease of 16.8% from 3 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$10.3 million, a decrease of 16.8% from J$12.4 million in the prior-year period.

The normalized profit margin declined to 5.0% from 6.7% in the year-earlier period.

Total revenue climbed 11.7% year over year to J$206.4 million from J$184.8 million, and total operating expenses rose 14.6% year over year to J$188.3 million from J$164.2 million.

Reported net income declined 16.8% on an annual basis to J$16.5 million, or 3 cents per share, from J$19.8 million, or 4 cents per share.

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