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Walkerswood owner sees profit rise tenfold

Walkerswood

WALKERSWOOD sauce maker, New Castle Limited, reported a tenfold rise in profit to $81 million in 2013 based in part on rising exports.

It underscores the increasing importance of exports amid a tight local economy.

“The company continues to make progress with the production, distribution and export of Walkerswood, Busha Browne and Jamaica Joe lines of sauces and seasonings,” said the management discussion in the Pan Jamaican Investment Trust (Pan Jam) annual report on its investment in New Castle. “Net profit increased significantly over prior year to $81.5 million ($8.18 million in 2012).”

The revenues at the company climbed 21 per cent to $450 million in the year under review. While its net assets totalled $949 million up from $892 million a year earlier.

Published in the Jamaica Observer
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