Salada Foods profit jumped 49 percent to $27 million in the December quarter from just $18 million in 2016, from sales revenues that rose 17 percent to $228 million from $195 million in 2016.
Improvement in profit margin, helped in boosting profit for the quarter as gross profit climbed 34.5 percent to $84.47 million for the quarter from $62.79 million in 2016. Gross profit margin rose sharply from 32.15 percent to 37 percent for the quarter.
Operating expenses rose by 10.4 percent to $32.4 million in the quarter, while distribution cost fell from $13.6 million to $12 million.
Earnings per share came out at 26 cents for the current quarter from 17 cents for the 2016 period and should end around $1.20 for the fiscal year to September.
Gross cash flow brought in $42 million but after paying dividends of $52 million cash funds were reduced from $159 million at the end of December 2016 to $128 million and Investments of $254 million. Current assets stand at $765 million and current liabilities at just $155 million. Shareholders’ equity stands at $777 million with borrowings at just $11 million. Net current assets stands at $609 million.
The stock has a long history of volatility with the trend in profit being inconsistent. The company’s stock traded at $10.51 on the Jamaica Stock Exchange with a PE ratio of 9 times 2018 earnings.
Profit jumps 49% at Salada Foods
February 8, 2018 by
