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Caribbean Flavours fiscal Q2 profit falls YOY

Caribbean Flavours & Fragrances Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 8 Jamaican cents per share, compared with 8 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$6.8 million, a decline from J$6.9 million in the prior-year period.

The normalized profit margin fell to 8.4% from 10.9% in the year-earlier period.

Total revenue rose 25.8% on an annual basis to J$80.2 million from J$63.7 million, and total operating expenses rose 29.0% on an annual basis to J$70.2 million from J$54.4 million.

Reported net income totaled J$10.8 million, or 12 cents per share, compared to J$11.1 million, or 12 cents per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to J$115.56.