JAMAICAN Teas’ appointment of a new distributor for the north-east US market has resulted in a 91 per cent increase in export sales for its first quarter ending December, financials indicate.
The company boasted export sales of $102.7 million, up from $53.8 million it made a year earlier. The strong increase in export sales led to overall increases in sales, which moved from $274.9 million by $44 million or 16 per cent over a comparable period last year.
Profit grew by 28 per cent to reach $27.5 million from increased revenues of $319 million. However, the tea company reported negative cash flows at the end of the quarter.
Published in the Observer
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