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Sweet River swings to profit in fiscal Q2

Sweet River Abattoir & Supplies Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was J$465,190, compared with a loss of J$1.3 million in the prior-year period.

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

The normalized profit margin climbed to 1.0% from negative 8.7% in the year-earlier period.

Total revenue rose on an annual basis to J$46.5 million from J$14.9 million, and total operating expenses increased year over year to J$45.3 million from J$16.8 million.

Reported net income totaled J$744,300, or 1 cents per share, compared to a loss of J$2.1 million, or a loss of 4 cents per share, in the prior-year period.

As of Nov. 6, US$1 was equivalent to J$119.66.