Mark Hart’s Caribbean Producers Jamaica Limited CPJ, has reported a net profit of USD$1-million for the financial year that ended in June 2016.
This is a USD$2.3-million fall when compared to the same period last year.
This report follows a July announcement by CPJ that due to the presence of unregulated players in the market, it expected a likely ‘impairment in net profits’.
At time Hart had indicated that the presence of these unregulated players ‘continue to create an inequitable environment for the company to compete against products of questionable origin and repute.
But he says for the 2016/ 2017 financial year, CPJ ‘s focus will be on rationalizing non-core businesses and a realignment to address the year-on-year increase in costs associated with their rapid growth.