CPJ Bullish Despite Profit Dip

////CPJ Bullish Despite Profit Dip

Sales at Caribbean Producers Jamaica Limited ticked up in the past year, but profits went south in line with a warning from the company two months ago that ‘unregulated players in the market’ would weigh on its bottom line.

Still, CPJ chairman Mark Hart acknowledged that the company was disappointed by its performance, considering the investments made to drive returns at the food and distribution company.

“We expected more growth and better margins than we were able to accomplish at the end of the year,” Hart told Gleaner Business.

“We had built in costs in terms of administration and selling costs, particularly salaries and wages, in anticipation of new lines of business that we were expecting to materialize,” he said.

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The Gleaner

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