Seprod Registers 30% Fall In 2015 Profits

Seprod Group, has reported a 30-percent decline in profits for 2015.

According to the company’s audited financial reports for the period, 2015 profits amounted to $576.9-million compared to $895.37-million in 2014.

And while expenses stayed above $11-billion, total revenues fell slightly to $13.78-million compared to $14.1-million dollars the year before.

In its breakdown, Seprod indicated that Manufacturing inflows came in at $12.48-billion compared to $12.41-billion dollars in 2014.

Meanwhile, distribution revenues fell marginally, amounting to $5-billion compared to $5.2-billion the previous year.

However Seprod improved liquidity with cash totaling $1.31-billion in 2015, compared to $550-million the year before.

Seprod is one of the largest manufacturing and distribution conglomerates in Jamaica with assets nearing $12-billion.

It comprises some 11 companies, ten of which are subsidiaries and one a joint venture manufacturer.