CARIBBEAN Cream Limited, producer of Kremi ice cream, has ended its 2015/16 financial year on a high, posting profit of $163 million or 188 per cent more than the numbers posted a year earlier.
It’s the highest profit that Caribbean Cream has made in its nine-year history, according to chairman of the company, Carol Clarke Webster, and was led by aggressive marketing strategies as well as continued decrease in the price of oil, sugar and fats on the world market.
Operation efficiencies also contributed to the jump in net profit of $109.9 million year over year.
“In addition, the company’s new refrigeration system brought down the kilowatt hours needed to produce and store our products,” Clarke Webster told shareholders in the company’s 2016 annual report.
Published in the Observer
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