Caribbean Flavours and Fragrances is reporting a 28.42-percent jump in net profits for the Financial Year ended June 30 compared to the same period last year.
According to the company’s audited financials, net profit for the period under review was $74.1-million.
In their report to shareholders, the board of directors indicated that the continuous positive growth in net profits was driven by the company’s ability to manage operational expenses whilst growing revenue at a double-digit rate.
They say a deliberate strategy to maintain sufficient inventory levels in order to better satisfy customers’ requirements has allowed the Company to grow its revenues and profits.
Based on the outlook for the coming year, the board says it is expected that the company will continue to improve its profits whilst increasing its market share in both the domestic and overseas markets.