Seprod CEO Richard Pandohie.
Food manufacturing group Seprod Limited has reported net profits of $3.17 billion, made on revenues of $38.07 billion for the year ending December 31, 2020.
Net profit reflects an increase of $1.46 billion, up 86 per cent over the year ending December 2019. Revenue climbed by $5.37 billion or 16 per cent during the year, compared to 2019.
Fourth-quarter revenues totalled $9.41 billion, an increase of $1.51 billion or 19 per cent over the corresponding period in 2019. The quarter’s net profit was $614 million, an increase of $19 million or three per cent over December quarter, 2019.
“This ended a good year that validated deliberate efforts made by the board in prior years to focus on execution, a strong innovation pipeline and diversification of our revenue pillars,” CEO Richard Pandohie and Chairman PB Scott said in notes accompanying the financial results.