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Caribbean Cream fiscal Q3 profit climbs 18.7% YOY

Caribbean Cream Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to 2 Jamaican cents per share, compared with 2 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$8.3 million, an increase of 18.7% from J$7.0 million in the year-earlier period.

The normalized profit margin declined to 3.5% from 3.7% in the year-earlier period.

Total revenue rose 25.7% on an annual basis to J$236.2 million from J$188.0 million, and total operating expenses climbed 26.7% from the prior-year period to J$216.6 million from J$170.9 million.

Reported net income came to J$13.2 million, or 3 cents per share, compared to J$11.2 million, or 3 cents per share, in the prior-year period.

As of Jan. 12, US$1 was equivalent to J$114.68.