CPJ records US$3m pre-tax profit

////CPJ records US$3m pre-tax profit

Mark Hart & Tom Tyler

Caribbean Producers Jamaica Limited (CPJ) recorded a pre-tax profit of US$3.116 million for the 2011-2012 financial year, an increase of 55 percent. The increase was aided by a six per cent rise in revenue, which closed the year at US$67.49 million, an improvement in key margins.

The gross profit margin was 26 percent, an improvement from 24 percent a year earlier.

 

Between 2006 and 2012, CPJ’s revenues have grown at a compound annual growth rate of 11 percent each year; that growth in revenue came from the company’s hotel & restaurant division. When CPJ’s revenues were correlated with the division between 2006 and 2012, the value was 0.97, showing that both CPJ’s revenues and the division moved in the same direction at a similar rate during the period under review.

CPJ has added value and continues to excel in the distribution of food and beverages to hotels and restaurants. Not surprising, the company has been awarded the 2012 Purveyor of the Year Award by the Jamaica Hotel and Tourist Association, the eighth time between 2002 and 2012.

CPJ’s Success

Dr David Lowe, CPJ’s business development manager and chief strategy officer, attributes the company’s growing success to the focused vision and determination of its Chairman Mark Hart and CEO Tom Tyler. Lowe stated that “Mark Hart and Tom Tyler are committed to service excellence. They also see the importance of creating a diversified business model, including broadening the product and service portfolio that is continuously developed to remain relevant to our target markets, this while simultaneously recognising the balance between cost-effectiveness and high-quality products.”

Lowe said the organisation is looking to build on this foundation through its new enterprises. These initiatives are mostly ventures marketed to its primary customer, the hospitality industry.

Lowe further stated that “CPJ is going to work from the market backwards. We are going to design and implement initiatives that the market is likely to accommodate.”

 

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Jamaica Gleaner

By | 2016-10-07T12:03:06+00:00 November 5th, 2012|News|Comments Off on CPJ records US$3m pre-tax profit