Jamaica Teas Limited manufacturing arm was saved in its third quarter ended June 30 by a jump in export sales, as domestic sales during the period were flat.
The manufacturing operations had good results during the quarter with sales improving by 33 per cent to $386 million with the main contributor to this being the jump in export sales, which saw an increase of 56 per cent over the prior year. However, domestic sales were essentially flat compared with the prior year, inching up by only four per cent.
Exports accounted for 68 per cent of total sales in the quarter and the company’s principals, Chairman John Jackson and Chief Executive Officer John Mahfood, have told shareholders that this positive trend in exports will continue through to the end of the financial year. The jump in exports reflects in part, a reversal of the temporary customer de-stocking that took place last year.
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