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Caribbean Flavours fiscal Q2 profit climbs 59.7% YOY

Caribbean Flavours & Fragrances Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 12 Jamaican cents per share, an increase of 58.3% from 8 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, an increase of 59.7% from J$6.8 million in the prior-year period.

The normalized profit margin climbed to 10.3% from 8.4% in the year-earlier period.

Total revenue increased 30.9% on an annual basis to J$105.0 million from J$80.2 million, and total operating expenses climbed 27.5% from the prior-year period to J$89.5 million from J$70.2 million.

Reported net income grew 59.7% year over year to J$17.3 million, or 19 cents per share, from J$10.8 million, or 12 cents per share.

As of Feb. 12, US$1 was equivalent to J$121.20.