Salada Foods Jamaica’s after-tax profit increased 43.5 per cent to $108 million for the year ended September 30, 2009 as it benefitted from keeping its core expenses below inflation.

Its turnover increased 9.8 per cent to $432.4 million, whilst selling and promotions expenses decreased by 3.9 per cent for the year “due to the arrangement in distributorship” and administrative expenses increased by 6.4 per cent to $57.9 million.

“Inflation over the period increased by 7.2 per cent,” Salada stated in its financials released November 20 to the Jamaica Stock Exchange.

The group earned interest income of $37.1 million for the year ended September 30, 2009 compared with $20.6 million in the previous year.

“This resulted from higher interest rates and timely collections, which allowed the group to invest additional funds in the money market,” it stated. “The directors are aware of the economic challenges that the industry and the group faces and the impact that these will have on the group and are committed to maintaining the group’s present strong financial position in the current difficult economic climate.”

Salada yesterday closed at $12.74 midway from its 52-week high and low of $20.50 and $6.20, respectively.

Last month, Salada was the top advancing stock up 33.1 per cent from $7.51 to $10 between September 30 and October 31, followed by Trinidad Cement, Sagicor Life and Scotia DBG Investments, which increased by 26.3 per cent, 23 per cent and 8.56 per cent, respectively.