Caribbean Cream Profits Back Into Triple Digits In 2021

Caribbean Cream saw their profits rebound in 2021, despite increased Admin expenses. Improved margins helped.

For the 12 months

• Sales of $1.9 billion (likely its highest ever), up 9.6%
• Gross Margin up slightly to 33.4% from 32.0%
• Profits of $101 million in 12 months. Company back intro triple digit profitability range after profit sank for the last few years.
• The company made a high of $172.7m in 2017 but it declined every year after that, to a low of $55m in 2020
• They continue to spend a lot of Capital expenditure though… almost $150m in 2021 and a similar $160m in 2020.. constant expansions and investments… or maybe this kind of business is just capital intensive
• They’ve had to take on more debt and are paying over $20m a year in interest costs