Jamaica Broilers Group, which mainly sells poultry and eggs, made $1.7 billion in net profit for its April 2016 year end, up 71 per cent because of a jump in revenue.
The Jamaica Broilers Group is back at producing animal feed on its SG Development lands after failing to reach an agreement with a potential lessee for the production of sea-island cotton.
“Pay attention to the names that haven’t participated as much in the stock market surge. There are still some good companies out there trading at attractive multiples (eg GraceKennedy, Jamaica Broilers, Pan Jam).” - Raymond Pitter
Jamaica Broilers Limited has invested $14 million in the rehabilitation of the Cumberland Hatchery, previously operated Jamaica Livestock Association.
The investment will translate to roughly a 25 per cent increase in capacity “that should go a far way in terms of meeting the potential additional demand that might be on the horizon,” senior vice president of operations and finance, Ian Parsard, told Financial Gleaner. The expected increase would translate to an additional 48,000 birds.
Jamaica Broilers Group recorded revenues of $9.17 billion for the quarter ending October 31, a six per cent increase on the $8.68 billion for the corresponding period last year.
The Jamaica Broilers Group (JBG) has reported increased revenues of $34.6 billion for the year ended May 2, 2015, or 12 per cent over the $30.8 billion posted the previous year.
Jamaica Broilers is said to be fielding expressions of interest from both local and international sources for the complex that it built in 2007 and later expanded at Port Esquivel in St Catherine, and is willing to consider proposals that convert the asset to other energy-related uses as well as options to purchase the fuel terminal in the future.
The Haitian operation of Jamaica Broilers Group now commands 15 to 18 per cent of the table egg market in that country, says President and Chief Executive Officer Christopher Levy.
The Jamaica Broilers Group Best Dressed Chicken division said on Friday that it has expanded its regional export portfolio with the addition of the Turks and Caicos Islands.
Jamaica Broilers Group (JBG) will triple its storage capacity following a $830-million investment to build out more room for raw materials used in the production of animal feed.