Both profit and revenues went south as the Jamaican operations registered a decline

Durrant Pate/ Contributor

Jamaica Broilers Group (JBG) is now feeling the punch from Hurricane Berly, resulting in its latest quarterly financials showing a drop in profit and revenues.

JBG produced net profit of J$1.1 billion for the quarter ended July 2024, representing a contraction of 13% from the J$1.2 billion achieved in the corresponding quarter in 2023. At the same time, group revenues for the first quarter amounted to J$23.5 billion, a 0.3% increase above the J$23.4 billion achieved in the corresponding quarter of the previous year. 

Gross profit for the quarter amounted to J$5.5 billion, a 3% decrease from the corresponding quarter. The performance of the Jamaican operations of the group was dismal with a segment result of J$1.6 billion, which was down J$154 million or 9% below last year’s segment result.

Jamaican operators lost revenues 

Total revenue for the Jamaican operations showed a reduction of 2% for the corresponding quarter. The reduction was mainly driven by the impact of the passage of Hurricane Beryl, which hit Jamaica on July 3. However, JBG’s US operations reported a segment result of J$1.2 billion, which is level with last year’s segment results.

Total revenue for the American operations showed an increase of 4% over the corresponding quarter.