Honey Bun has released their Unaudited Financial Statements for the Nine Months Ended June 30.
They’re reporting year to date sales for the period of $1-billion for the period. This represents a 4-percent increase relative to 2017.
Profit before tax for the nine months amounted to $80-million, which is 17-percent lower than last year.
For the three months ended June 30, sales amounted to $332-million, representing a 15-percent increase in sales relative to the prior year.
Profit before tax of $9-million was 5-percent higher than the corresponding prior year period.
In her report to shareholders, CEO Michelle Chong says this performance has been the result of continued investment in production capacity and restructuring of distribution.
She pointed out that earlier this year, Honey Bun launched its new Buccaneer Jamaica pocket size rum cakes in 3 flavors at the Jamaica Expo.
It’s also entered two new markets with further interest from other buyers in existing markets.
Honey Bun closed the nine-month period with earnings per share of 15 cents, lower than the 18 cents reported for 2017.