Jeffrey Hall, managing director of Jamaica Producers Group (JPG), says the 2023 landmark amalgamation with PanJam Investment Limited to form the Pan Jamaica Group Limited (PJG) continues to have positive returns for the company and its shareholders.

At the recently held company’s annual general meeting at the ROK Hotel, JPG reported net profit attributable to shareholders of J$1.6 billion, supported by robust earnings from its stake in Pan Jamaica—now one of the Caribbean’s most diversified multinational conglomerates.

From its 2024 audited financial statements, the result compares favourably to the normalised 2023 profit of J$1.36 billion (after removing one-time amalgamation-related gains), representing an 18 per cent year-over-year improvement in core earnings.

The group’s total assets rose to J$38.1 billion, while shareholders’ equity increased to J$37.4 billion, reflecting ongoing value creation and prudent capital management. The group continues to operate debt-free, underscoring a conservative financial strategy that positions JPG to take advantage of future investment opportunities.

According to chairman Charles Johnston, “The 2024 performance of JP was characterised by a strong and improving performance in the underlying operations of our associate company, Pan Jamaica Group. As the single largest shareholder in PJG, JP’s outlook is closely aligned with PJG’s growth trajectory across its key business segments: property and infrastructure, speciality foods, global services, and financial services.”

Pan Jamaica Group’s net profits attributable to shareholders grew by over 80 per cent in 2024, driven by significant improvements in all but one of its four core operating segments. JPG’s share of PJG’s earnings, amounting to J$1.6 billion, represents the largest component of its income and highlights the synergy created through the 2023 corporate restructuring.

With a renewed focus on long-term value creation, Jamaica Producers Group continued its strong performance in 2025 with first-quarter net profits up 144 per cent to J$585 million following a strong performance from the Pan Jamaica Group.

According to Hall, “JP is now clearly hitting its stride as a holding company. Pan Jamaica Group is performing beautifully, our treasury interests are solid, and the prospects for our land are emerging as expected.”

The company added 1.7 million units of Pan Jamaica Group shares to its holdings during Q1 2025.

In addition to its PJG investment, JPG continues to manage an extensive portfolio of property and treasury assets.

These include over 3,500 acres of farmland and strategic commercial properties in St. Mary and Kingston. The group’s administrative costs remained tightly controlled, and investment properties saw a J$141 million increase in value in 2024, reflecting upward market trends and solid asset performance.