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Caribbean Producers fiscal Q1 profit climbs YOY

Caribbean Producers (Jamaica) Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to $267,370, a gain from $11,070 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.3% from 0.1% in the year-earlier period.

Total revenue climbed 8.9% on an annual basis to $20.5 million from $18.8 million, and total operating expenses increased 7.3% year over year to $19.6 million from $18.3 million.

Reported net income grew on an annual basis to $410,580, or 0 cents per share, from $2,580.