Salada Foods Jamaica is reporting net profit of just over $171 million for the year ended September 30, earned on revenues of $1.6 billion.
That represents a near 8% increase in revenue compared with the previous year, driven mainly by strong performance in the domestic market, where sales climbed 12% to $1.3 billion.
Despite record high global prices for green coffee beans, the company improved gross profit to almost $488 million as management focused on operational efficiencies, improved production throughput and disciplined procurement.
However, higher costs weighed on the bottom line. Selling and promotional expenses increased as Salada invested in marketing to support expansion into new Caribbean markets and the United Kingdom.
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