Listed company, Spur Tree Spices, says despite robust revenue growth, the company experienced a notable decline in profit after tax compared to the previous year for the financial year ended December 31, 2023.
Spur Tree Spices reported profit after tax of $80.097 million in 2023, marking a significant decrease from $115.622 million reported in 2022.
This decline reflects several factors, including increased operational costs and market challenges amidst the ongoing global economic uncertainties.
However, the company achieved a commendable uptick in revenue during the fiscal year 2023.
Spur Tree Spices Jamaica reported total revenue of $1.459 billion, showcasing a substantial growth from $1.028 billion generated in the preceding year.
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