Fontana had a record-breaking December quarter, revenues jumped to J$2.1 billion which is a 15 percent jump over the same period the previous year where the figure came in at J$1.8 billion. Net profit returns were also pretty positive, it grew by 30 percent, closing at J$323.8 million.
Gross profit grew by 16.7 percent from J$717.2 million in quarter 2 of 2021 to J$836.9 million for the quarter under review. There was also a minor improvement in gross profit margins over the prior year, for the last period under review it stands at 39.2 percent compared to 38.7 percent over the previous year.
Despite strong inbound numbers, outbound numbers such as in the segment of expenses continue to rise. In fact, operating expenses grew by 25.3 percent to J$490.5 million, which is up from J$391.5 million over the prior year.
Despite operating expenses, finance costs went down 42.8 percent ending the quarter at J$53.9 million which is a better outlook than what they had, the J$94.3 million achieved the prior quarter.
Net profit for the quarter went up to J$323.8 million, compared with J$248.8 million recorded in the prior period. The margins on net profit margin increased from 13.4 percent over the prior year to 15.2 percent in the current year.
Assets increased by 4.3 percent to approximately J$5 billion up from $4.8 billion same period, the prior year.
Lastly, shareholder’s equity grew by 23 percent to $2.45 billion, up from $1.99 the prior year.
