May 15, 2025
Caribbean Flavours and Fragrances Limited (CFF)
Unaudited Financials for the First Quarter Ended March 31, 2025:
Caribbean Flavours and Fragrances Limited (CFF) reported a 21% increase in revenue for the first quarter ended March 31, 2025, totaling $226.44 million, compared to $187.56 million in the corresponding three months of the previous year.
Cost of Sales amounted to $129.98 million (2024: $122.44 million), representing a 6% year-over-year increase. Consequently, gross profit rose by 48% to $96.47 million, compared to $65.12 million for the first quarter ended March 31, 2024.
Administrative Expenses increased by 15% to $55.82 million (2024: $48.65 million), while Selling & Distribution costs decreased by 48%, from $1.73 million in 2024 to $895,000 for the three months. As a result, Total Expenses for the first quarter amounted to $56.71 million, a 13% increase relative to the $50.38 million reported in 2024.
Operating Profit for the three months amounted to $39.75 million, a 170% increase relative to the $14.74 million reported in 2024.
Pre-tax Profit for the first quarter ended March 31, 2025, amounted to $44.55 million, a 171% increase relative to the $16.43 million reported in 2024.
Taxation for the three months increased by 125% to $9.00 million (2024: $4.00 million). Net Profit for the three months amounted to $35.55 million, a 186% increase from the $12.43 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.04 (2024: EPS: $0.01). The twelve-month trailing EPS was $0.12, and the number of shares used in these calculations was 899,200,330. Notably, CFF’s stock price closed the trading period on May 14, 2025, at $1.25, with a corresponding P/E ratio of 10.51x.
Balance Sheet Highlights
The company’s assets totaled $871.34 million (2024: $808.02 million). This increase was attributable to amounts due from related parties, which amounted to $329.28 million (2024: $229.53 million).
Shareholders’ equity was $726.17 million (2024: $664.14 million), representing a book value per share of $0.81 (2024: $0.74).
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