The Metry Seaga led JFP is reporting an 88% tumble in its net profits for the March quarter to $475,000, an 88 per cent decline, compared with $3.8 million in the previous year.
Revenue declined by 30 per cent to $112 million.
The company stressed however that it compressed its cost structure in order to compensate for the decline in revenues.
This contributed to a 46 per cent tumble in its cost of sales and Mr Seaga says business was robust during the first half of this year, compared with last year, while adding that the company is trying to break into export markets in Curacao, Panama, and the Dominican Republic.
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