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Unilever Caribbean Q3 profit falls YOY

Unilever Caribbean Ltd. said its third-quarter normalized net income came to 33 Trinidad and Tobago cents per share, a decline of 26.8% from 46 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 TT$8.7 million, a decline of 26.9% from TT$11.9 million in the prior-year period.

The normalized profit margin dropped to 6.3% from 8.3% in the year-earlier period.

Total revenue declined on an annual basis to TT$138.9 million from TT$143.8 million, and total operating expenses totaled TT$124.9 million, compared with TT$124.7 million in the year-earlier period.

Reported net income decreased 24.7% on an annual basis to TT$10.4 million, or 40 cents per share, from TT$13.9 million, or 53 cents per share.

As of Nov. 9, US$1 was equivalent to TT$6.40.