The directors of Caribbean Cream are reporting a net loss before tax of $144 million on revenues of $2.2 billion for the nine months ended November 30 last year.
The company says the loss followed higher production, administrative, selling and financing costs during the period.
The directors say the outturn represents a sharp reversal from the modest net profit of $2.8 million recorded in the corresponding period a year earlier.
They add that the previous year's performance was supported by lower operating and financing pressures compared with the most recent period.
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