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Unilever Caribbean Q2 profit falls YOY

Unilever Caribbean Ltd. said its normalized net income for the second quarter amounted to 39 Trinidad and Tobago cents per share, a decrease of 28.0% from 54 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$10.1 million, a decrease of 28.5% from TT$14.1 million in the year-earlier period.

The normalized profit margin declined to 7.2% from 9.5% in the year-earlier period.

Total revenue decreased 5.2% year over year to TT$140.5 million from TT$148.2 million, and total operating expenses fell 5.2% on an annual basis to TT$124.2 million from TT$131.0 million.

Reported net income declined 26.7% year over year to TT$12.5 million, or 48 cents per share, from TT$17.0 million, or 65 cents per share.

As of Aug. 7, US$1 was equivalent to TT$6.34.