Durrant Pate/Contributor

Jamaica Broilers Group (JBG) has sunk further into the red with its latest audited financial report showing the conglomerate incurring a massive 142% increase in losses.

For the year ended May 3, 2025, net losses amounted to $7.22 billion, up from the $2.99 billion posted last year. During the fourth quarter, the net loss widened to $7.47 billion, up from $6.81 billion a year ago. Loss before taxation for the year closed on $6.56 billion, a 186% increase relative to $2.30 billion reported in 2024. Loss before taxation for the fourth quarter closed on $8.23 billion, up from $7.06 billion in 2024.

Taxation for the year decreased by 4% to reach $662.27 million (2024: $689.50 million). As such, net loss for the year amounted to $7.22 billion, a 142% increase from the $2.99 billion net loss reported in 2024. For the fourth quarter, net loss was $7.47 billion (2024: $6.81 billion).

Consequently, Loss Per Share (LPS) for the year more than doubled to $7.21, from the LPS of $2.98 posted last year. The company recorded a gross loss of $2.19 billion for the fourth quarter, down from the gross loss of $3.81 billion for the same quarter of 2024.

JBG has faced a difficult 2025 with the revelation earlier in the year that the losses on its American subsidiary were understated, resulting in the management releasing monthly financial reports, instead of the traditional quarterly statement, as a means of ensuring transparency until a full audit is done.

Small rise in revenues

The Christopher Levy-led company is reporting a 5% increase in revenues totalling $98.57 billion compared to $93.83 billion in the corresponding period last year. Revenue for the fourth quarter rose 15%, closing on $26.91 billion, up from $23.49 billion in 2024. Cost of Sales amounted to $84.89 billion (2024: $80.28 billion), representing an increase of 6% year over year. Consequently, gross profit increased by 1% to $13.68 billion compared to $13.55 billion for the year ended April 30, 2024. 

Other gains decreased by 89% to close at $263.17 million (2024: $2.45 billion), while Distribution Costs increased by 31% from $2.75 billion in 2024 to $3.61 billion in the period under review. Also, administration and other expenses for the year ended May 3, 2025, amounted to $13.74 billion, a 6% increase relative to $12.92 billion reported in 2024.

Finance Costs totalled $3.20 billion, a 20% increase from the corresponding period last year. (2024: $2.68 billion). JBG assets closed the year at $54.74 billion (2024: $55.23 billion). The movement in total assets was mainly due to a $513.28 million downturn in Current Assets, which saw declines in Cash of $1.69 billion and Receivables of $1.55 billion, while biological assets increased by $1.09 billion.

Inventories grew by $847.63 million and taxation recoverable up by $785.79 million. Shareholders’ deficit was $10.03 billion (2024: $1.02 billion), representing a book deficit per share of $10.02 (2024: $1.02).