The net profits of Seprod Group of Companies tumbled from $1.2 billion during the first quarter of last year to $850 million for the first quarter of this year.
This was despite a 32% spike in its revenues to $37.7 billion.
The company's CEO, Richard Pandohie, says the steep fall in its net profits was due to heavy investments in infrastructure and human capital, which must be done before revenues and profits can be generated.
The company's Chief Financial Officer, Damion Dodd, also says a significant portion of these investments were made in its pharmaceutical division, which has not yet flowed to its bottom line or net profits.
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