Carreras Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 12 Jamaican cents per share, compared with a loss of 14 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$595.2 million, compared with a loss of J$684.1 million in the year-earlier period.
The normalized profit margin climbed to 21.9% from negative 30.0% in the year-earlier period.
Total revenue grew 19.2% on an annual basis to J$2.72 billion from J$2.28 billion, and total operating expenses declined 47.7% year over year to J$1.80 billion from J$3.44 billion.
Reported net income rose 15.1% from the prior-year period to J$977.1 million, or 20 cents per share, from J$848.9 million, or 17 cents per share.
For the year, the company's normalized net income totaled 46 cents per share, an increase of 6.7% from 43 cents per share in the prior year.
Normalized net income was J$2.22 billion, a rise of 6.7% from J$2.08 billion in the prior year.
Full-year total revenue rose 8.4% from the prior-year period to J$11.21 billion from J$10.34 billion, and total operating expenses rose 7.9% year over year to J$7.85 billion from J$7.28 billion.
The company said reported net income decreased 26.4% year over year to J$2.94 billion, or 61 cents per share, in the full year, from J$4.00 billion, or 82 cents per share.
As of June 1, US$1 was equivalent to J$115.86.