Tropical Battery Company says it made increased profit of $121.35 million in its third quarter ended June 2024.
In its latest unaudited financial statement published on the Jamaica Stock Exchange, the company said this represents a 212 per cent increase, compared with the $38.83 million made post tax for the similar period last year.
This brought profit at the nine months mark to $220.16 million.
Tropical Battery says the outturn was attributed to improved efficiencies, along with strategic investments.
In terms of revenues, Tropical Battery brought in $1.91 billion for its third quarter, up from $782.84 million for the corresponding period last year.
The company says the increase was attributed to the acquisition of California-based, Rose Batteries, along with its 51 per cent stake in Kaya Energy, located in the Dominican Republic.
In its outlook, Tropical Battery says it plans to continue expansion, along with optimising efficiencies.
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