The Jamaica Broilers Group made J$1.3 billion in net profit for the quarter ended October 2023. This is an increase compared to the $842 million made last year in the similar quarter.
Revenues amounted to $23.4 billion, up from the $22.9 billion made last year.
While the company says its operations remain strong, it was slapped with higher expenditure for the quarter.
Jamaica Broilers Group spent $2.8 billion on administration and other expenses, compared to last year’s $2.5 billion. This can be linked to a decrease in other income and increased distribution costs.
Looking at the company’s business segments, its Jamaica operations showed a three per cent increase in revenue over the last six-months, while the US operations increased by 22 per cent.
Jamaica Broilers said the increase was driven by growth in production, increased sale and export of poultry and the implementation of cost containment measures.
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