Beverage and distribution company Wisynco Group has reported a decline in annual profit, despite recording its highest-ever revenue.
For the year ended June 30, Wisynco posted net profit of J$4.1 billion, down 6.6 per cent from a year earlier, but revenue climbed 14 per cent to $65.3 billion.
The company says higher sales were offset by increased operating costs.
During the year, Wisynco expanded its investments, acquiring a 30 per cent stake in Ringtail Holdings and purchasing the production assets of Ringtail Bottlers, including the rights to manufacture Stone's Ginger Wine and several liqueurs for regional and US markets.
The company said the Ringtail Bottlers acquisition contributed $397 million in revenue and $139 million in profit during the period under review.
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