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Tropical Battery registers lower profit for third quarter

Tropical Battery realised a dip in profit in its third quarter ended June.
 
After meeting spending obligations, the company made $38.8 million.
 
That's up from $53.8 million for the similar period in 2022.
 
Tropical Battery says the dip was linked to some one-time costs and expenses that should not reoccur moving forward.
 
The company's revenues however improved, coming in at $782.8 million, versus $661.8 million for April to June 2023.
 
Its expansion into the Dominican Republic through Kaya Energy Group positively impacted the results.
 
Tropical Battery continues to be bullish on expansion, and the company says the incorporation of Tropical Battery USA, which it announced earlier this year, represents a significant growth opportunity.
 
Entering the North American markets of the United States, Canada, and Mexico presents the potential for increased sales and brand awareness.
 
It will also be partnering with Amazon for online distribution.


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