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Caribbean Flavours fiscal Q3 profit climbs 15.9% YOY

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Caribbean Flavours fiscal Q3 profit climbs 15.9% YOY

Caribbean Flavours & Fragrances Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 12 Jamaican cents per share, a gain of 11.8% from 11 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$10.8 million, a gain of 15.9% from J$9.3 million in the year-earlier period.

The normalized profit margin rose to 16.1% from 14.9% in the year-earlier period.

Total revenue increased 7.0% on an annual basis to J$67.1 million from J$62.8 million, and total operating expenses increased on an annual basis to J$51.6 million from J$49.6 million.

Reported net income rose 15.9% from the prior-year period to J$17.3 million, or 19 cents per share, from J$14.9 million, or 17 cents per share.

As of May 13, US$1 was equivalent to J$115.69.