Durrant Pate/ Contributor

Jamaica Broilers Group (JBG) has seen a marginal decline in profitability caused by the underperformance of its Jamaican operations, owing to the passage of Hurricane Beryl in July this year.

During its second quarter ended October 26, 2024, gross profit amounted to $5.7 billion, representing a 2% decline from the corresponding quarter last year. The Jamaican Operations reported a segment result of $3.3 billion, which is $394 million or 11% below last year’s segment result.

Total revenue for the local operations showed a contraction of 1% from the prior year’s six-month period. This decline was mainly driven by the impact of the passage of Hurricane Beryl on July 3.

American operations showed growth

 JBG’s US Operations reported a segment result of $2.4 billion which is $185 million, 8% above last year’s segment result. This increase was driven by increased volumes of poultry meat.

Total revenue for the US Operations also increased by 8% over the prior year’s six-month period.  The Group produced a net profit attributable to shareholders of $1.1 billion, for the October quarter, a 14% decline from the $1.3 billion achieved in the corresponding quarter last year. 

Group revenues for the quarter amounted to $23.6 billion, a 1% increase above the $23.4 billion reported for the comparable period in 2023.