Export growth and plant modernisation drives Salada nine-month performance

Salada Foods Jamaica Limited has reported growth across its top and bottom lines for the nine months ended June 30, 2026. The Company credits expanded market reach, product innovation, and its ongoing plant modernisation programme for the improved results.

Gross Revenue for the nine-month period rose 11.5% to $1.282 billion, up from $1.150 billion in the corresponding period last year. The third quarter alone saw revenue climb 16.1% to $443.4 million, reflecting sustained demand across both domestic and export markets.

Profitability improved alongside the topline. Gross Margin expanded by 1.3 percentage points to 31.7%, while Operating Profit grew 51.1% to $215.1 million for the nine months. Net Profit rose 40.6% to $168.5 million, with earnings per stock unit improving to $0.16, up from $0.12 in the prior year.

“Our focus on operational efficiency and expanding market reach has translated into meaningful top-line growth and stronger earnings,” the Company said in its interim report to shareholders. “This performance reflects continued and healthy demand for our products across both domestic and export markets.”

Speaking to the drivers behind the performance, Salada’s General Manager pointed to continued progress in both its domestic and export markets, including growth in key US and Caribbean markets.

“In the United States we are seeing growth in some of the main supermarket chains in the southern states and through our Amazon offerings, while in the wider Caribbean, growth is primarily in Barbados,” Brown said. 

She added that the Company’s mainstay coffee line continued to grow in both domestic and export markets.

Taste of Tradition

Innovation also played a role, with Brown noting that the Jamaica Mountain Peak portfolio recorded significant growth during the period. The Company’s Sorrel Hibiscus line, launched in October 2025, has recorded month-on-month growth since its debut and is now exported to the USA, the UK, Canada, and the wider Caribbean. 

“Our consumers have welcomed it with open arms. Sorrel Hibiscus is also driving revenue as the product is increasingly being enjoyed outside the traditional festive season,” Brown said.

On the margin side, the Company pointed to its plant modernisation initiative, now underway as Salada approaches its 70th year of operation. The programme involves a strategic assessment and upgrade of various areas of the production process, which management said is improving quality, output, and the Company’s cost of goods sold. Selling and Promotional expenses declined from 5.2% to 5.0% of Gross Revenue, while Administrative Expenses fell from 12.9% to 10.1%.

The Company generated Net Cash from operating activities of $148.2 million for the period, a turnaround from an outflow of $57.1 million in the prior year. Total Assets stood at $1.58 billion as at June 30, 2026, and the Company paid an interim dividend of $0.069 per stock unit.

Salada also maintained its community commitments during the period, including continued support for Jebb Memorial Basic School and participation in the Everyone’s A Winner 3K & 5K that benefitted the Jamaica Society for the Blind Scholarship Fund.