For the year ended October 31, 2020, revenues for air conditioning company CAC 2000 surged to JM$1.26 billion — up from JM$1.12 billion earned at end of the previous year.
The company’s profit also climbed at the end of the fiscal year, to JM$32.54
million, compared to a loss of JM$33.40 million a year ago.
There was a significant movement in operating profit for the year under review, coming from only JM$2.3 million at year end 2019 to JM$60.2
million October 31, 2020.
In third-quarter 2020, which ended in July, revenue significantly grew as the company benefited from a new line of business coming out of the COVID-19 crisis when it launched environmental-specific programmes to clean air conditioning filters. CAC 2000 earned JM$354 million in revenue compared to JM$221 million in the corresponding period a year earlier.
At the same time, cost of sales jumped to JM$834.65million at the fiscal year end, compared to $775.57 million earned in 2019. Finance costs also increased during the year, climbing from JM$28.70 million in 2019 to
Come January 2021, the company will be operating under new management as current Chief Operating Officer Gia Abraham will take up her appointment as chief executive officer effective New Year’s Day, replacing
CAC 2000 Limited engages in the sale of air conditioning
equipment, as well as the installation and maintenance of such systems.
The company listed on the Junior Market of the Jamaica Stock
Exchange in 2016.