Daily Market Summary- August 8, 2017
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HONBUN reports 36% decline in nine months Net Profit.
Honey Bun (1982) Limited (HONBUN) For the Nine Months Ended June 30, 2017: Revenue grew by 7% amounting to $969.42 million, up from $903.45 million reported a year ago. The Company had a 13% increase in Cost of Sales to $550.16 million and consequently, Gross Profit increased by 1% or $3.08 million year-to-date to $419.26 million. For the quarter, Revenue declined by 2% for the quarter to total $289.08 million relative to the $296.19 reported the prior quarter. The Company had Other gains totaling $283,563 relative to Gains of $5.88 million in 2016. Finance Income totalled $1.11 million a 47%
SALF books 31% increase in nine months net profit
Salada Foods Jamaica Limited (SALF) for the nine months ended June 30, 2017, recorded an 8% increase in turnover for the quarter to $208.42 million (2016: $192.16 million). Salada Foods’ turnover increased by 13% to $612.80 million for the nine months ended June 2017 compared to $540.28 million booked in the previous year. The company noted that, “top line growth was attributed mainly to improved sales through our local distributor, LASCO, which grew by 35%. Export sales continue to lag due to challenges in the New York Tri-State region of the United States but we have implemented a marketing initiative