Seprod looking to extract more synergies from workforce

Manufacturing and distribution company Seprod Limited is looking to extract maximum benefit from its acquisition programme over the last two years.

Reporting to shareholders on Monday, CEO Richard Pandohie said since the company’s last annual meeting of shareholders, Caribbean Producers Jamaica, CPJ, officially joined the Seprod family, and Seprod increased its ownership stake in A.S. Bryden & Sons Holdings Limited to 80 per cent.

He described the moves as transformational in nature, as it expands its Caribbean footprint and cements itself as a leading manufacturing and fast-moving consumer goods company.

In 2024, Seprod’s revenue climbed to a new high of $133.6 billion, but net profit declined by 27 per cent to $3.32 billion, primarily due to higher finance costs, bigger operating expenses, and a substantially larger tax bill. Still, while the portion of profit attributable to owners of Seprod also fell, it was less stark, having declined from $2.9 billion to $2.6 billion.

Pandohie said the company’s spend on investments and acquisitions are already yielding results. Seprod invested over $7.7 billion into production capacity, logistics infrastructure, and strengthening its regional supply chain across years 2023 and 2024, he said.