Wisynco, a major distribution company in the Jamaica and Caribbean region recorded its most successful quarter yet in terms of revenue numbers.
For the quarter ending September 30, 2022, revenues came in at $11.9 billion, this is a 29.8 percent increase over the $9.2 billion achieved in 2021 during the same time. The company has experienced increasing demand for its products which is always a positive.
Net profits ascribable by shareholders for the period accumulated to $1.3 billion, which is 34.1 percent greater than the $967 million earned for the prior year.
Pre-tax profit amounted to $1.7 billion, which is 34.7 percent higher than the $1.3 billion in the same period of 2021.
Selling, Distribution & Administrative expenses (SD&A) is up 27.4 percent to J$2.6 billion over the J$2 billion recorded last year. Wisynco’s SD&A expense-to-sales ratio was 21.6 percent for the quarter, compared to 22.0 percent in the prior year.
Overall, it was a solid performance by Wisynco, most of the numbers show that the company is moving in the right direction. Exports have also been good as well, since 2021 it has been up over 10% and that’s a positive, exports represent over 50% of its business so it is a major economical driver for the company.
