Salada turns to forward purchasing, plans cheaper packaging line
Salada Foods Jamaica Limited reported for the period, ended March 31, 2025 what it describes as raw material volatility but says that this is being managed through forward purchasing.
Meanwhile the company is planning a new packaging line which it says will enhance operational efficiency and increase operational efficiency.
Salada manufactures instant coffee, powders and teas. In 2024 Turmeric Latte, one of the newer products placed by the company, was a blend of turmeric and plant-based creamer. Another of its newer products, a flavoured coffee line includes cinnameg, a blend of cinnamon and nutmeg flavours, coconut cappuccino and caramel made inroads on Amazon, boosted by the Caribbean Diaspora market.
It was indicated that the coconut cappuccino flavour leads sales across the line. Overall, export sales grew by double digits, Salada’s recent report stated, due mainly to the company’s expansion in Caricom markets including Trinidad and Tobago, Barbados Antigua and Barbuda and St. Lucia.
For the second quarter ended March 31, the company reported sales of JMD 369.71 million compared to JMD 426.89 million a year ago. Net income was JMD 38.42 million compared to JMD 67.88 million a year ago. Basic earnings per share from continuing operations was JMD 0.04 compared to JMD 0.07 a year ago.
For the six months, sales was JMD 767.9 million compared to JMD 726.78 million a year ago. Net income was JMD 88.82 million compared to JMD 98.76 million a year ago. Basic earnings per share from continuing operations was JMD 0.09 compared to JMD 0.1 a year ago.
Sources: Jamaica Stock Exchange and Marketscreener.com
Comments
Post a Comment