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Unilever Caribbean Q1 profit climbs 10.7% YOY

Unilever Caribbean Ltd. said its first-quarter normalized net income was 20 Trinidad and Tobago cents per share, a decline of 44.8% from 35 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 TT$5.2 million, an increase of 10.7% from TT$4.7 million in the prior-year period.

The normalized profit margin increased to 4.6% from 3.5% in the year-earlier period.

Total revenue decreased 16.0% year over year to TT$113.6 million from TT$135.1 million, and total operating expenses fell 9.7% year over year to TT$105.3 million from TT$116.6 million.

Reported net income decreased 15.3% year over year to TT$5.8 million, or 22 cents per share, from TT$6.9 million, or 52 cents per share.

As of May 14, US$1 was equivalent to TT$6.36.