Salada launches new low-caffeine coffeeWednesday, August 10, 2016
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With year end a few months away, Salada Foods Jamaica Limited (SFJL) delivered earnings per share of 48 cents over nine months, compared to 21 cents the year before.
Salada’s main business is the manufacture and sale of instant coffee and roasted and ground coffee beans.
During its third quarter, ending June 30, the company introduced a new Low Caff Mountain Peak Coffee which has 25 per cent less caffeine than the Mountain Peak Original coffee, and is said by the manufacturers to be the only product of its kind on the market.
The company this week reported revenue of $540 million over the nine months to June. The inflows are six per cent more than $507 million in 2015. Revenue in the third quarter was $192 million or 65 per cent more than the year before.
Operating profit over nine months was $55.17 million or 178 per cent better than the $19.85 million of the similar period in 2015.
Profit after tax, with income from interest, other investments and foreign exchange gains climbed 124 per cent to $47.18 million up from $21.08 million at June 30, 2015.
Salada also reported improved margins on its Roberts line of products.
The launch of the new low-caffeine product was included in cost of goods sold which climbed during the third quarter.
The company also engaged in staff restructuring including separations, which comprised one-off costs which inflated administrative costs for the quarter just ended.