3 months ago
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Ice cream manufacturing company Caribbean Cream Limited, which trades as Kremi, achieved a net profit of $36.7 million for the ending February 2024, which is up from the $27.1 million achieved in the previous year.
This is an increase of 35.4 per cent for the company that is in its 11th year on the junior market of the Jamaica Stock Exchange, having listed in 2013.
Earnings per share climbed from seven cents to 10 cents. No dividend was declared during the 2023 or 2024 financial years.
Gross operating revenue for the year ending February 2024 was $2.64 billion, up from $2.51 billion the previous year, which is an increase of less than six per cent.
At the same time, staff costs jumped from $307 million to $373 million, an increase of 21.4 percent.
The principal activities of the company are the manufacture and sale of ice cream and frozen novelties, under the Kremi brand, and the importation and distribution of certain types of frozen novelties.
Caribbean Cream makes more than 20 flavours of bulk ice cream and three flavours of ice cream cakes.
In November last year, Dr Matthew Clarke replaced Christopher Clarke as chairman of the company.
Efforts to get a comment from the company on its performance and future plans were unsuccessful.
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