EFRESH reports year end net loss of $96.23 million
February 14, 2020 Everything Fresh Limited (EFRESH) for the year ended December 31, 2019 revenue grew by 17% for the period amounting to $2.20 billion, up from $1.88 billion reported a year ago. For the fourth quarter, revenues totaled $563.04 million, a 15% increase when compared to last period’s $489.07 million. Cost of sales closed the period at $1.95 billion (2018: $1.66 billion) which translated into a gross profit of $254.06 million (2018: $218.71 million). For the fourth quarter, gross profit fell by 1% to $49.96 million relative to $50.24 million in 2018. The Company noted, “The pressure on margins
ELITE reports 211% increase in six months net profit
February 13, 2020 Elite Diagnostic Limited booked a 29% increase in revenue to total $235.92 million compared to $182.24 million for the same period in 2018. Revenue for the 2nd quarter rose by 22% to $117.92 million (2018: $96.76 million). The Company stated, “Revenue growth was buoyant driven by strong performance of the Liguanea and New Kingston locations, however the new St. Ann location expenses continues to weigh on the bottom line. The company had challenges with the installation and operating of MRI and CT. Both modalities were not operational in the 2nd quarter. The company expects the location to begin generating profitable
SALF reports $5.49 million in first quarter net profit attributable to shareholders
February 13, 2020 Salada Foods Jamaica Limited (SALF), for the quarter ended December 31, 2019, recorded a 67% increase in turnover to $288.46 million (2018: $172.34 million). The company stated that, “Revenue improvements were attributed to increased sales in both domestic and export markets.” Cost of sales for the period increased by 61% to close the quarter at $223.18 million relative to $138.33 million in 2018. As such, gross profit for the quarter amounted $65.28 million, a 92% increase year over year from the $34.01 million booked in 2018. The Company noted, “Increased manufacturing costs attributed to the use of Jamaica