Manufacturer Seprod grows revenue by one-third

 


 

Seprod Limited for the three months ended 31 March 2025 (Q1) posted total revenue of $37.7 billion, representing a 31.9 per cent increase from $28.6 billion in Q1 2024.

However, management notes that revenue growth did not flow all the way to the bottom-line due to cost pressure, particularly in finance costs used “to realize the Group’s substantial acquisition activities as we build out a regional distribution platform.

Meanwhile, a significant increase in assets reflected  increased scale and positions  for continued future growth they stated, noting, “ Management is very focused on strategies to increase productivity, enhance operating efficiency and reduce finance costs.”

Seprod Limited, together with its subsidiaries, manufactures and distributes food products in Jamaica. The company offers sports drinks, condensed milk, canned meat, carbonated soft drink, biscuits, pasta, flour, oil and fats, sauce, seasonings, nuts, and supplements under the Altitude, Betty, Brunswick, Busta, Butterkist, Chiffon, Chubby, Cool Fruit, Delite, Eve, Gold Seal, Goya, Kraft, Miracle, Planters, Post, Pronto, Ritz, Serge, Seven Seas, Supligen, Swizzzle, Tang, Turbo, and Uncle Sam's brand names. It also offers its products online.

The company was founded in 1930 and is headquartered in Kingston, Jamaica.

Direct expenses in the first quarter increased proportionately from $21.1 billion to $27.6 billion in 2025, resulting in a gross profit of $10.1 billion (2024: $75 billion).

 The gross profit margin improved to 26.7 per cent in Q1 2025 from 26.2 per cent in Q1 2024, indicative of “management striving for effective cost control despite rising expenses,” it was noted.

After accounting for taxation, the net profit from continuing operations was $867 million, a decline from $1.23 billion in Q1 2024, attributed mainly to increased finance costs.

 Total assets increased from $103.1 billion as of March 2024, to $133.4 billion as of March 2025, an increase of 29.4 per cent.

 Total liabilities increased from $62.8 billion to $85.7 billion, reflecting higher current and long-term liabilities.

The Board approved a dividend of $0.605 per share at a meeting held on April 2025, which is the same as the amount paid in Q1 2024.

Cash used in investing activities was $618 million, up from $440 million in prior year. This was mainly for capital expenditure.

Caribbean Money Daily

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