Salada’s earnings dip amid supply-chain issues in Q2 | Loop Jamaica

The content originally appeared on: Jamaica News | Loop News

Salada Foods reported a dip in coffee sales and profit during the second quarter ending March 2022.

Salada, now under new management with Tamii Brown as general manager, said global and local supply chain issues, increased raw material costs and general high inflation continue to provide challenges for the company.

Sales totalled $346 million for the March 2022 quarter from $353 million in 2021.

Meanwhile, profit for the March quarter totalled $40.3 million, down from $51.4 million in the corresponding quarter of 2021.

Salada said it continues to search for improved distribution in existing and new markets. It also expanded its e-commerce and export efforts, including sales on Amazon.com.

The initiatives continue to yield positive results, said the company.

During the period under review, Salada launched a line of flavoured coffees in March under its flagship brand Jamaica Mountain Peak including Coconut Cappuccino, Caramel and Cinnameg (a blend of nutmeg and cinnamon).

Salada Foods General Manager Tamii Brown

Salada confirmed Brown as general manager in February and appointed Zayous Hamilton as Financial Controller in March 2022.

“The strengthened management team is committed to delivering strong results and improving shareholder value,” said Salada.

Salad Foods manufactures and sells instant coffee, roasted and ground coffee beans and other consumer products. Its factory and packing facilities are located at Bell Road in Kingston.

Effective February 2017, the company outsourced the distribution of its core products in the local market to its subsidiary, Mountain Peak Food Processors Limited.