November 17, 2025
Caribbean Flavours and Fragrances Limited (CFF)
Unaudited Financials for the Nine Months Ended September 30, 2025
Caribbean Flavours and Fragrances Limited (CFF) for the nine months ended September 30, 2025, reported a 24% increase in Revenue, totaling $793.72 million compared to $642.18 million in the corresponding period last year. Revenue for the third quarter increased by 36%, closing at $264.48 million compared to $194.27 million for the comparable quarter of 2024.
Cost of Sales amounted to $461.61 million (2024: $410.16 million), representing a 13% year-over-year increase. Consequently, Gross Profit rose by 43% to $332.11 million compared to $232.02 million for the nine months ended September 30, 2024. The company recorded Gross Profit of $118.06 million for the third quarter versus $68.62 million reported for the similar quarter of 2024.
Administrative Expenses increased by 22% to $178.79 million (2024: $146.22 million), while Selling & Distribution Costs decreased by 36%, moving from $6.16 million in 2024 to $3.96 million in the period under review. As a result, Total Expenses for the nine months ended September 30, 2025, amounted to $182.75 million, a 20% increase relative to $152.38 million reported in 2024.
Operating Profit for the nine months ended September 30, 2025, amounted to $149.37 million, an 88% increase relative to $79.64 million reported in 2024. Operating Profit for the third quarter amounted to $47.81 million (2024: $18.20 million). Net Finance Income totaled $11.84 million, a 10% decrease from $10.72 million reported in the corresponding period last year.
Pre-Tax Profit for the nine months ended September 30, 2025, amounted to $161.20 million, a 78% increase relative to $90.36 million reported in 2024. Pre-Tax Profit for the third quarter amounted to $52.17 million (2024: $21.53 million).
The Taxation charge for the nine months ended September 30, 2025, increased by 86% to $41.00 million (2024: $22.00 million). Net Profit for the nine months amounted to $120.20 million, a 76% increase from the $68.36 million reported in 2024. For the third quarter, Net Profit was $38.17 million (2024: $15.53 million).
Consequently, Earnings Per Share for the nine months amounted to $0.13 (2024: $0.08), while Earnings Per Share for the quarter totaled $0.04 (2024: $0.02). The twelve-month trailing EPS was $0.15, based on 899,200,330 shares used in the calculations.
Notably, CFF’s stock price closed the trading period on November 14, 2025, at $1.60, with a corresponding P/E ratio of 10.60x.
Balance Sheet Highlights
The company’s assets totaled $1.03 billion (2024: $864.13 million). This increase was attributed to amounts due from related parties, which stood at $436.08 million (2024: $282.27 million).
Shareholders’ Equity was $810.83 million (2024: $720.07 million), representing a Book Value per Share of $0.90 (2024: $0.80).
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