SALADA Foods Jamaica Limited at the end of its financial year ended September saw increased revenues and profits despite what its directors have labelled to be continued inflationary pressures on its business.

For the twelve-month period the coffee processor increased revenues to $1.3 billion — 12 per cent above the $1.2 billion it earned in 2021.

Bolstered by significant marketing efforts in improving its distribution and visibility in strategic trade channels whilst improving operational efficiency, the company’s top line was also positively impacted by its new line of flavoured coffee products brought to market during the year.

The flavoured line — which includes coconut cappuccino, caramel and cinnameg (a blend of cinnamon and nutmeg) — was developed to tap into a younger market of coffee drinkers as it pushes to raise the traditional flavour profile.

Since its launch earlier this year the 3-in-1 sachet products have been said to be “well received locally”, with the same response expected following the commencement of its distribution in key export markets.

“Domestic market sales grew by 15.7 per cent and export sales by 6.4 per cent. Operating profit grew by 23 per cent from $182.13 to $223.96 million,” results from its year-end audited results indicated.

Profits, which marginally grew $160 million, were almost $5 million more than at the end of the previous year. Earnings per share (EPS) was $0.17 or a 13.3 per cent increase over $0.15 last year.

Total assets for the company moved up to $1.4 billion at the end of the year while liabilities stood at $302.6 million.

“The results show that Salada continues to manage expectations and challenges from the lingering economic and social effects of the COVID-19 pandemic, ongoing geopolitical conflicts, raw material shortages, and a challenging commercial environment — [which] remain concerns,” the company’s directors said in a recent report to shareholders.

They likewise noted that the company’s “relatively strong and debt-free balance sheet” will also enable it to “remain agile and nimble in the current inflationary environment”.