SWEET River Abattoir (SRA) Ltd increased losses for the year ended March 31, 2016, although the company almost doubled revenues during the period.

The report for the year ended indicates that revenues climbed to $215.15 million, compared to $121.48 million the year before.

Losses for the year were $5.53 million, compared to $4.68 million to March 2015.

While directors are yet to speak to the year’s results, the company’s nine-month report indicated a significant increase in pork sales for SRA, but low supply of pigs and higher prices for the animals contributed to losses.

Located in Sweet River, Savanna-la-Mar, Westmoreland, Sweet River Abattoir’s main activities are the buying and selling of pork products and provision of abattoir services.

The Christmas quarter contributed significantly to the rise in revenue during the year, with sales of $89.2 million compared to $39.6 million in Christmas 2014, a 158 per cent increase.

During the year, losses from operations were reduced to $3.71 million, compared to $4.53 million the year before.

The nine-month report said the company’s new abattoir was more than 95 per cent complete, with only three pieces of equipment remaining to be installed and commissioned. SRA is seeking certification for the plant to operate.

For the year ended, $76 million was spent on upgrading equipment and adding to property. Total assets for Sweet River increased in value from $356.47 million to $401.07 million at year end.

Cash, however, was reduced to $1.53 million compared to a balance of $22.35 million in 2015.

The company was listed on the Jamaica Junior Stock Exchange in September 2014.