Strong Revenue Growth Supports Improvement in KREMI’s Bottom Line

• For the three months ended May 31, 2020, Caribbean Cream Ltd. (KREMI) reported a 31.2% (or $6.43Mn) increase in net income relative to the corresponding period in 2019. Net Profit rose from $20.62Mn (EPS: 5¢) in 2019 to $27.06Mn (EPS: 7¢) in 2020.
• This favorable result was largely due to a 2.9% (or $12.31Mn) increase in revenue, a 1.9% (or $2.05Mn) decline in administrative and selling & distribution expenses as well as a 44.4% (or $2.69Mn) fall in finance cost.
• The stock price has fallen 1.9% since the start of the calendar year and closed Monday’s trading session at $3.54. At this price, the stock currently trades at a P/E of 22.1x earnings, which is above the Junior Market Manufacturing Sector Average of 21.9x.

(Source: KREMI Financials)