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Salada Foods Jamaica fiscal Q2 profit climbs YOY

Salada Foods Jamaica Ltd. said its normalized net income for the fiscal second quarter ended March 31 amounted to 25 Jamaican cents per share, an increase from 9 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$26.3 million, a gain from J$9.4 million in the prior-year period.

The normalized profit margin climbed to 10.5% from 7.6% in the year-earlier period.

Total revenue increased 77.5% year over year to J$220.4 million from J$124.2 million, and total operating expenses climbed 65.8% from the prior-year period to J$186.4 million from J$112.4 million.

Reported net income increased year over year to J$32.2 million, or 31 cents per share, from J$10.2 million, or 10 cents per share.

As of May 12, US$1 was equivalent to J$115.61.