In the News
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Minister of Industry, Commerce, Agriculture and Fisheries Karl Samuda has hailed the Jamaica Broilers Group for its US$2-million investment in a new pellet mill, which will significantly boost the company’s feed production capacity.
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The decision by the Jamaica Broilers Group to invest US$2 million in an additional pellet mill at its Best Dressed feed facility in Old Harbour, St Catherine, is a ringing endorsement of its confidence in the growth potential of the economy, Christopher Levy, president and chief executive officer, disclosed yesterday.
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Jamaica Broilers, the country’s largest poultry business operator has acquired a hatchery in Pennsylvania, United States as it looks to service markets both at home and abroad.
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Poultry company Jamaica Broilers Group, led by the Levy family, is executing a three-year plan to restructure its management and operations.
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Christopher Levy, Group President & CEO, JAMAICA BROILERS GROUP LIMITED is pleased to announce the following appointments effective May 1, 2017:
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CEO Charles Chambers said the commissioning of more than 830,000 barrels of storage will make WIP second only to Petrojam as the largest owner of fuel storage in Jamaica. The total storage is broken down as 65,000 barrels at the Ocho Rios Pier and 600, 000 at the former Jamaica Broilers ethanol plant, which it acquired last year and has now completely retrofitted to store gasolene, diesel and heavy fuel oil.
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Sales in the quarter climbed 18 per cent to $11.7 billion, and from that Jamaica Broilers scored $722 million in net profit, which, in turn, was up 49.5 per cent year-on-year.
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Poultry company Jamaica Broilers Group (JBG) earned $439 million for the second quarter, up eight per cent due to higher sales revenue.
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Despite an increase in costs associated with its new Iowa plant, and foreign currency translation costs associated with US dollar-denominated expenses, Jamaica Broilers was able to improve earnings by two cents for the second quarter ended October 29, 2016.
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Jamaica Broilers Group sales topped $10 billion in the first quarter ending July, a double-digit increase that came as the poultry company sold more eggs regionally, and booked results from its newest American acquisition for the first time.
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The disposal of operations at Port Esquivel, a positive contribution made by its latest US acquisition, plus improved results from Haiti fed higher net earnings for Jamaica Broilers Group (JBG) for the first quarter ended July 2016.
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A nascent and little-known drone operating company, Agrocaelum, is already making inroads in the local agricultural sector as farmers tap into the new technology to improve their output and bolster farm management practices.