Fontana Reporting Strong Third Quarter Results, As Waterloo Branch Stays On Track
Fontana Limited trading as Fontana Pharmacy is reporting very positive results for the 3rd quarter ended March 31, 2019.
Revenues for the quarter were JA$951 million, representing a 6.8% increase over the JA$890 million recorded in the corresponding quarter of the previous year (Q3/2018).
Gross profit also increased to JA$296 million or 14.5% higher than the JA$259 million recorded in Q3/2018.
For the quarter ended March 31, 2019 Fontana recorded profits attributable to shareholders of JA$29.70 million compared to JA$16.09 million, an improvement of 85% over the corresponding period of the previous year.
Fontana Limited Director Kevin Obrien Chang commenting on the results indicated that this marked increase in profits can be attributed to a number of systematic improvements, including a continued focus on strategic sourcing, more efficient buying processes, and increased efforts in inventory management.
As for the Kingston Waterloo Branch he said that this was now set for a September 2019 Opening.
The new Waterloo store will be the sixth Fontana branch, presenting Jamaicans with a state of the art, cutting edge retail shopping experience.
Chang is pointing to their ceaseless emphasis on customer convenience, amplified by an escalator for ease of access, and an ample and uncrowded parking area as key drivers for customer attention and share of wallet.
Fontana’s new partners at Waterloo will include Imperial Optical, Candy Craze and an Intcomex Tech Centre with exclusive brands. There will also be a Starbucks and Wendy’s beside side Fontana Waterloo.
It’s going to be all about ‘everything you need in one place’ said Chang.
Fontana has been serving Jamaica since 1968, with branches in Mandeville (1968), Montego Bay (1994), Savannah La Mar (2007), Kingston Barbican (2013), Ocho Rios (2013), and coming very soon, Kingston Waterloo (September 2019) and continues to actively explore all attractive options for further expansion across the island.