KINGSTON: On the back of improved revenues from exports, local manufacturing sales and sale of housing units, the Mahfood family-run Jamaica Teas group posted a 40 per cent rise in net profit for the year ended September 30, 2015.
Net profit for the year was $71.69 million when compared to $51 million the year before. Total group revenue improved 16.67 per cent to $1.33 billion, compared to inflows of $1.14 billion the year before.
The group started in 1995 with the manufacture of teas and had its IPO on the Junior Market of the Jamaica Stock Exchange in 2010. The company is now divided into three main business segments.
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