Wisynco Reports 28% Increase In Profit For 2018, Expects 30% Increase In Capacity From Capital Investments

• For the year ended June 30, 2018 Wisynco Group Limited reported net profit of $2.3Bn (EPS: $0.61), representing a 28% increase relative to the $1.76Bn (EPS: $0.49) reported a year prior (after discounting for $500Mn ‘other income’ which mostly represented a one-off fire insurance payment in 2017 and removing discontinued operations).
• The performance was primarily driven by a 15% increase in sales to $24.5Bn thanks to strong growth in its beverage portfolio and solid growth in the brands it represents in Jamaica.
• The company made the largest investment in its history in new beverage equipment installing two new beverage lines and one filler replacing its first ever beverage filler.
• Overall, capital expenditures on fixed assets in the past year amounted to some $2.6Bn, of which $1.5Bn represented the capital investment in production equipment.
• The primary focus for the 2018/19 FY is are improving profitability and building greater efficiency.
• The company also expects the new investments made last FY to provide a 30% lift in its overall capacity in 2019. 

Source: Wisynco Financials