Durrant Pate/Contributor

Jamaica Broilers Group (JBG) has released its second monthly financial report under its recently developed provisional financial reporting format amid the recent financial accounting controversy over its American operations

The new provisional financial reporting format was developed by JBG to increase transparency with its shareholders. Our Today reported two months ago that JBG found itself steeped in controversy as questions arose around whether the accounting books for the group’s American operations were doctored to give a better performance than the true state of affairs, or were mere financial and/or accounting errors made in innocence.

However, JBG, Jamaica’s largest poultry company, dismissed the thought of any willful act but acknowledged, “unsubstantiated accounting valuation methodologies affecting several financial statement line items, including inventories and biological assets”. 

“The issues identified appear to constitute material prior period errors and will, once determined and finalised, be fully corrected following the conclusion of the annual financial audit for the company,” JBG admitted. It has shared with the public its second provisional financial report for June, which is the 2nd month of its 2025/2026 financial year.

Improvement in profitability

For June, profitability increased to $960-thousand, up from $853-thousand in the previous month, making $1.81 million for the two-month period May-June 2025. Revenues for June were flat at $8.03 million, slightly down from the $8.18 million recorded in the previous month and $16.21 million for the combined two-month period.

Cost of Sales is being kept in check at $6.22 million for June, slightly down from the $6.3 million for May, representing $12.53 million for both months. The JBG Board has approved this reporting format through which it will be providing a routine snapshot of the group’s profit performance on a monthly basis until the reports are finalised through the quarterly submission. 

These financial snapshots are provisional, unaudited financial results, which are preliminary and subject to change upon the official release of audited results for 2024/2025 and the quarterly results for 2025/2026, prepared in accordance with IFRS Accounting Standards and the rules of the Jamaica Stock Exchange (JSE), where JBG is listed and traded.