Jamaica Broilers Group Ltd. Experiences Robust First Quarter Boosted by Thriving U.S. Operations
Jamaica Broilers Group Ltd. has reported impressive first-quarter results for the fiscal year 2023/24, with a significant contribution from its U.S. plant. The feed-to-fork operation achieved a noteworthy 44% increase in revenues from its U.S. operations, accounting for 65.6% of the total $14.3 billion in revenues.
The acceleration at the South Carolina facility played a crucial role in this success, driving the company’s overall performance. After-tax profits for the quarter ending July 29 reached $1.241 billion, marking a 16% rise from the previous year’s $1.068 billion. Earnings per share also experienced a substantial 14% increase, reaching $1.24 billion.
Several factors contributed to this positive outcome, including reduced spending on plants and property and a decrease in income from financing. Lennox Channer, the vice president of accounting and administration, emphasized that the company has no further statements to make regarding its U.S. sales momentum or quarterly results at this time.
