Salada breaks new ground with Ramson partnership, racks up record year
Published:Wednesday | December 11, 2024 | 12:06 AM
Buoyed by strong domestic and export sales performance, coffee processor Salada Foods Jamaica Limited says its reaping returns from its innovations, its latest being the Golden Turmeric Latte.
Aided by the new latte product, which the company said scored big in the Trinidad & Tobago market, exports accounted for $322 million, or just under 22 per cent of the $1.48 billion of sales racked up by for the 2024 financial year ended September.
“We’ve designed the product with flexibility in mind, offering individually bar-coded sachets for single-use purchases, alongside boxed options for greater convenience. This ensures that the product is within reach of a diverse range of consumers, catering to varying purchasing preferences,” said Salada General Manager Tamii Brown.
“Rather than adopting a top-down innovation strategy, we focus on creating products that resonate with our target markets, aligning with emerging beverage trends and consumer needs,” Brown added in an interview with the Financial Gleaner.
Salada is a contract manufacturer to several local companies, being Jamaica’s sole instant coffee processor.
The coffee company also partnered recently with Chas E. Ramson Limited, to manufacture a line of drink crystals, under the Kisko brand, featuring flavours such as pineapple ginger, mango ginger, and ginger lemonade.
The arrangement kicked off in September.
“This one is breaking new ground for us,” said Brown.
“This is in line with our innovation strategies. If you notice, it has nothing to do with coffee. We’re using our local fruits and the same machinery to spray dry them right here in our plant. To be partnering with the likes of Chas E. Ramson on this is full of possibilities” she said.
The record $1.48 billion in revenue resulted from a six-per cent sales growth in the year.
In addition, shareholder profit also hit a new record at $194.3 million, up 18 per cent year on year.from $164.5 million.
“Equally significant was our ongoing regional expansion. During the year, we intensified our distribution efforts in Barbados, Antigua & Barbuda, St Lucia, and Trinidad & Tobago, allowing us to deepen our market presence and cater to a broader consumer base,” Brown said.
Last year, Salada invested $40.25 million in upgrades to its packaging rooms, which the general manager said resulted in improved operational throughput.
“As a 66-year-old company, it is important for us to complement our years of know-how and experience with technological innovation. These changes not only enhance productivity, but also position us as a regional manufacturing partner of choice,” Brown said.