Salada Foods Registers 55% Increase in Net After Tax Profits

Salada Foods Jamaica is reporting a 55-percent increase in profit after tax and a 49-percent increase in earnings per share for the three months ending December 2017.

Chairman Patrick Williams in his report to shareholders indicated that operating profit for the quarter amounted to $42-million, up 101-percent when compared to the $21-million in the corresponding 2016 quarter. He attributed increased sales revenue that rose 17-percent to $228-million from $195-million in 2016 as contributing to the performance. He also says another contributor was lower selling and distribution expenses falling from more than $13-million to $12-million.

As a result of this performance, net profit for the quarter was $27-million, up 55-percent on the $17-million posted in 2016.