Solomon's Fresh Market should be contributing to the company's bottom line by the second quarter, according to the CEO of AML Foods.
The popular supermarket has only been in operation since November of last year.  But Gavin Watchorn, the AML Foods chief, expects the $5.3 anchor of the Old Fort Bay Town Centre will move from the red into the black within a few short months.
"We think by the second quarter it will kick in," he said.  "It's not in the red now.  It's a little below break even but we expected that.  I would say it is a couple of months ahead of our projections."
Solomon's Fresh Market, offering an unprecedented mix of organic vegetables, has catered to the considerable number of communities springing up in western New Providence.
Watchorn told Guardian Business that feedback from customers has been excellent.
"The seafood in particular has been an enormous hit," he added.  "The whole deli fresh area has also been well received.  The supermarket was indeed designed around these concepts."
Although Solomon's has been open for months, AML Foods announced yesterday that the company will host a grand opening this Friday, now that the store is fully operational.
Turning to the rest of he company, the AML Foods chief said the search goes on for a suitable site for the first Carl's Jr. franchise in the country. He reported there are a number of locations of interest.  Staff hirings are also being considered.  However, Watchorn told Guardian Business many of these issues won't come into force until construction begins.
The first restaurant is expected to open in the third quarter of this year.  He also indicated that AML Foods is poised to save considerably by making use of existing staff and infrastructure.  By incorporating resources and "synergies" from the Dominos franchise, he revealed the company is poised to save $250,000  and "transfer it over to Carl's Jr".
This rise in sales without considerable spikes in overhead should bode well for investors in the BISX-listed firm.
"We will be making use of the purchasing team and such from Dominos.  From a synergy perspective, that is the name of the game.  You add sales without increasing costs.  In actual savings from Dominos alone, we'll be able to save $250,000," he said.
Watchorn anticipates by next year AML Foods should drive its overall sales up to $115 million, partly due to the continued success of Solomon's Fresh Market.  As several Carl's Jr. franchises come online, he added that the fast food chain could add another $15 million to AML's bottom line over the next several years.
AML Foods is targeting a $4 million investment in several Carl's Jr restaurants in the coming years.
Last month, AML Foods issued a further 4.28 million in Class B preference shares.  It also entered into an agreement with preference shareholders to restructure share debt.
The maturity date of the shares was extended from December 2015 to December 2022, with a reduced rate of 8 percent to 7.25 percent.
"It allows us to use operational cash flow for growth rather tha debt repayment," Watchorn said.  "We can grow our business."

Click here to read more at The Nassau Guardian