Caribbean Flavours and Fragrances (CFF), the Kingston-based producer of a host of flavours and fragrances used in the manufacturing process, is now ready to launch into the Dominican Republic and the US.
Ian Kelly, chief financial officer of CFF, told the Jamaica Observer that the aim is to have the entity earning more than half its revenues outside Jamaica “within the next five years.” Currently, CFF generates 20 per cent of its revenues outside Jamaica.
“We have partnered with manufacturers in Jamaica and we are now moving within specific areas of the Caribbean,” Kelly told the Caribbean Business report. “Jamaica has only three million people. We are looking for opportunities to broaden our revenues,” he added.
CFF last year recorded revenue growth of seven per cent to $637 million. Profits were, however, three per cent lower than the prior year at $79 million as the company like many others faced the brunt of the novel coronavirus pandemic and the accompanying supply chain issues which emanated.
However ,with things looking more positive even with the pandemic, the company is looking to go on the offensive for growth.
“We [are] looking to expand the sales of our flavours in the region,” added Derrick Cotterell, the managing director of CFF.