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Honey Bun Ltd. fiscal Q3 profit climbs 43.5% YOY

Honey Bun (1982) Ltd said its normalized net income for the fiscal third quarter ended June 30 was 2 Jamaican cents per share, a gain of 43.5% from 2 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$10.6 million, an increase of 43.5% from J$7.4 million in the year-earlier period.

The normalized profit margin climbed to 4.9% from 4.1% in the year-earlier period.

Total revenue increased 20.3% on an annual basis to J$217.5 million from J$180.8 million, and total operating expenses rose 18.8% on an annual basis to J$199.2 million from J$167.6 million.

Reported net income increased 43.3% year over year to J$17.0 million, or 4 cents per share, from J$11.9 million, or 3 cents per share.

As of Aug. 11, US$1 was equivalent to J$117.10.