Fontana Limited says its second quarter performance was heavily impacted by Hurricane Melissa, despite recording revenue growth for the period ending December 31.
The company reported revenue of $2.9 billion, up 5.6% from $2.7 billion a year earlier. However, the quarter was disrupted by a 16-day closure of one of the largest stores, reduced hours at western Jamaica locations and temporary disruption to its Montego Bay offices.
Gross profit rose slightly to $1.1 billion, but operating expenses jumped 22% to $840.8 million, driven by closure costs, expansion spending and integration of newly acquired Monarch locations.
Operating profit fell nearly 33%, while net profit declined 38.7%. Earnings per share came in at $0.16, down from $0.26 last year.
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