The profit at food distributor Everything Fresh Ltd fell by a third in the March 2026 first quarter, but controlled management of its payables to suppliers helped drive a near-doubling of its cash position.
“The quarter’s performance was positive, though we are still experiencing lingering impacts of events surrounding Hurricane Melissa in late October 2025,” stated Managing Director Courtney Pullen in the preface to the financials.
Quarterly sales totalled $1.09 billion, a 3.2 per cent rise over the comparable period in 2025 — modest but positive momentum for a company still navigating the temporary closures and reduced arrivals in the tourism sector. What the top line gave, however, the cost structure largely took back. Net profit for the quarter was $28.5 million, down from $42.5 million in the prior-year period. Pullen nevertheless framed the outcome as constructive.
Cash and bank balances — including short-term investments — rose to $252.5 million from $133.3 million a year earlier. Operating cash flow was positive at $121.4 million, a substantial swing from the negative $8.7 million recorded a year ago. The improvement was driven largely by the management of supplier payables, which generated an effective cash inflow in the quarter, compared to a cash outflow a year earlier. Payables on the balance sheet totalled $694.3 million, up from $469.2 million a year earlier.
“We will remain resilient and continue focusing on achieving our targets for the year, delivering value and growth for all shareholders,” Pullen added.
Total assets climbed to $2.1 billion, up 20 per cent year on year, driven by a 40 per cent surge in inventory to $1.0 billion — consistent with restocking and the push into broader retail distribution that Pullen has previously signalled to the Financial Gleaner. Total borrowings grew to $779.2 million from $659.3 million a year earlier. Notably, the debt profile has shifted sharply, with most borrowings now due within a year, leaving just $30.8 million in long-term loans, compared to $407.9 million a year ago. The company closed the quarter with capital of $561.5 million, up from $538.6 million a year earlier.
business@gleanerjm.com
