Profit surges at Caribbean Producers

////Profit surges at Caribbean Producers

Mark Hart, executive chairman of CPJ, stands outside his company headquarters in the Montego Bay Freeport, St James

Caribbean Producers Jamaica (CPJ) Ltd said this week that growth in business within the tourism sector drove an increase in revenue for the second quarter ended December 31, 2015. Revenue for the quarter climbed nine per cent to US$24.9 million.

For the six-month period to December, revenue reflected 8.5 per cent growth to US$45.41 million.

Net profit for the company surged 73 per cent to US$1.76 million for the six-month period, compared to US$1.01 million earned at December 2014.

Contributing was CPJ St Lucia, a recent acquisition, from which gross contribution to profit was US$0.82 million.

CPJ, a wholesaling, distributing and manufacturing company, is headquartered in Freeport, Montego Bay, St James. Its business includes wholesaling and distribution of foods and beverages, the distribution of non-food supplies and the manufacturing and distribution of fresh juices and meats.

In November 2015, the company opened a new joint venture operation in St Lucia with Duboulay’s Bottling, CPJ St Lucia. CPJ holds 51 per cent of CPJ St Lucia through its subsidiary, CPJ Investments Ltd.

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Jamaica Observer

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