August 13, 2025
Salada Foods Jamaica Ltd. (SALF)
Unaudited financials for the nine months ended June 30, 2025:
Salada Foods Jamaica Ltd. (SALF) reported a 2% increase in turnover for the nine months ended June 30, 2025, totaling $1.15 billion compared to $1.13 billion in the corresponding period last year. Turnover for the third quarter decreased by 6% to $381.93 million compared to $405.46 million for the comparable quarter of 2024.
Cost of sales amounted to $800.36 million (2024: $768.90 million), representing an increase of 4% year over year. Consequently, gross profit decreased by 4% to $349.47 million compared to $363.35 million for the nine months ended June 30, 2024. The company recorded gross profit of $112.65 million for the third quarter versus $134.04 million reported for the corresponding quarter of 2024.
Other operating income decreased by 36% to $1.23 million (2024: $1.91 million), while selling and promotional expenses increased by 19% from $50.48 million in 2024 to $60.30 million in the period under review. Administrative expenses for the nine months ended June 30, 2025, amounted to $148.07 million, a 29% increase relative to $114.45 million reported in 2024.
Operating profit for the nine months ended June 30, 2025, was $142.33 million, a 29% decrease compared to $200.34 million reported in 2024. Operating profit for the third quarter was $35.15 million (2024: $76.27 million). Net finance income totaled $17.43 million, a 10% increase from $15.91 million in the corresponding period last year.
Profit before taxation for the nine months ended June 30, 2025, was $159.76 million, a 26% decrease compared to $216.24 million reported in 2024. Profit before taxation for the third quarter amounted to $41.33 million (2024: $84.53 million).
Taxation for the nine months ended June 30, 2025, decreased by 26% to $39.94 million (2024: $54.09 million). Net profit for the nine months was $119.82 million, a 26% decrease from $162.16 million reported in 2024. For the third quarter, net profit was $31.00 million (2024: $63.40 million).
Earnings per share for the nine months amounted to $0.12 (2024: $0.16), while earnings per share for the quarter totaled $0.03 (2024: $0.06). The twelve-month trailing EPS was $0.14, and the number of shares used in these calculations was 1,038,832,900.
Notably, SALF’s stock price closed the trading period on August 12, 2025, at $2.81, with a corresponding P/E ratio of 19.78x.
Balance Sheet Highlights
The company’s assets totaled $1.449 billion (2024: $1.450 billion). There was no significant change in total assets; however, inventories increased to $527.81 million (2024: $433.73 million). Cash and cash equivalents decreased significantly from $191.41 million reported on June 30, 2024, to $68.94 million for the period under review.
Shareholders’ equity was $1.15 billion (2024: $1.19 billion), representing a book value per share of $1.11 (2024: $1.15).
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