Kaya acquisition powers Tropical revenues
Tropical Battery Company Limited have credited the acquisition of Dominican Republic-based Kaya Energy Group for contributing to increased growth in revenues in third quarter (Q3) 2023, despite indicating the need to be monitored and make adjustments to the operation so as to ensure the overall success of the group.
Tropical Battery's revenues for the April to June quarter rose by 18 per cent to $782.84, up from $661.84 million in the corresponding period in 2022. At the same time, gross profit increased by 10 per cent for the three months, closing at $228.66 million.
"The integration of this new market into our operations has proven to be a strategic and fruitful endeavour, particularly as we approach Q4," directors Alexander and Daniel Melville said in a report attached to unaudited statements.
For the nine-month period, Tropical Battery's revenue grew by 8.9 per to $2.13 billion, while gross profit jumped 12 per cent.
Tropical Battery announced the acquisition of solar photovoltaic engineering.............https://www.jamaicaobserver.com/business/kaya-acquisition-powers-tropica...
Tropical Battery's revenues for the April to June quarter rose by 18 per cent to $782.84, up from $661.84 million in the corresponding period in 2022. At the same time, gross profit increased by 10 per cent for the three months, closing at $228.66 million.
"The integration of this new market into our operations has proven to be a strategic and fruitful endeavour, particularly as we approach Q4," directors Alexander and Daniel Melville said in a report attached to unaudited statements.
For the nine-month period, Tropical Battery's revenue grew by 8.9 per to $2.13 billion, while gross profit jumped 12 per cent.
Tropical Battery announced the acquisition of solar photovoltaic engineering.............https://www.jamaicaobserver.com/business/kaya-acquisition-powers-tropica...
