Seprod Group had a stellar December fourth quarter where they beat analysts’ estimates. Net profits for this particular quarter grew by 314%, which is an increase of J$916 million.
Revenues for the period grew by 122% to a figure of J$28.23 billion. It’s an increase of J$15.50 billion over the prior year. For the entire year, net profits grew to J$3.84 billion which is a 93% year-over-year growth when we look at past reports.
If we should take into consideration the performance of the Bryden Group that Seprod acquired in 2022 and evaluate the numbers, the revenues are approximately J$79.67 billion. This is an 82% increase over the corresponding period in 2022.
The acquisition of AS Bryden & Sons Holdings which is a major distribution player from Trinidad & Tobago is both fundamental to Seprod in the short and long term. In the short term, they can take advantage of the company’s resources and business. Over the long term, they can be able to invest more in the company and grow it into a much larger business.
In the distribution business, cost management is key, we can see that Seprod has been working steadfastly to reduce warehouse and logistic costs from the use of third-party warehouses.
The company has now transitioned to a new distribution campus at its Marcus Garvey Drive base in downtown Kingston. This is a very important step in the right direction given that the company’s main logistic center was destroyed in 2021.
