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Honey Bun Ltd. fiscal Q2 profit climbs YOY

Honey Bun (1982) Ltd said its normalized net income for the fiscal second quarter ended March 31 came to 4 Jamaican cents per share, a gain from 1 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 J$19.1 million, an increase from J$5.6 million in the year-earlier period.

The normalized profit margin climbed to 7.7% from 2.7% in the year-earlier period.

Total revenue grew 20.3% on an annual basis to J$247.7 million from J$205.8 million, and total operating expenses grew 10.2% on an annual basis to J$215.4 million from J$195.5 million.

Reported net income grew year over year to J$30.6 million, or 6 cents per share, from J$8.9 million, or 2 cents per share.

As of May 7, US$1 was equivalent to J$115.28.