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Carreras fiscal Q1 profit climbs 10.4% YOY

Carreras Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 11 Jamaican cents per share, an increase of 10.4% from 10 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$515.7 million, an increase of 10.4% from J$467.1 million in the year-earlier period.

The normalized profit margin rose to 19.7% from 18.0% in the year-earlier period.

Total revenue grew year over year to J$2.62 billion from J$2.59 billion, and total operating expenses declined year over year to J$1.85 billion from J$1.91 billion.

Reported net income grew 12.9% from the prior-year period to J$622.9 million, or 13 cents per share, from J$551.8 million, or 11 cents per share.

As of Aug. 7, US$1 was equivalent to J$116.96.