Caribbean Cream Registers Marginal Bump in Revenues

The board of directors of Caribbean Cream Limited has released their unaudited financial results for the first quarter ending May 31, reporting a marginal 1-percent increase in revenues.

Chairman Carol Clarke Webster says adverse weather conditions, rain and flooding, impacted negatively on revenues for the quarter.

Operational costs were up 19-percent or 34-million dollars.

This was driven by price increases on ingredients, storage and shipping, in addition to higher utility costs and increased labour costs.

As a result, net Profits of $35-million was down 51-percent or $36-million compared to the same period last year.

Caribbean Cream listed on the Junior Market of the Jamaica Stock Exchange manufactures and sells ice cream under the Kremi brand and imports and distributes frozen novelties.

–30–