Jamaica Broilers sales climb to new record
Published:Wednesday | July 12, 2023 | 12:11 AM
Poultry producer Jamaica Broilers Group grew sales by more than a fifth at year ending April 2023, pushing the company to a new high while growing its yearly earnings by nearly 40 per cent.
At $91.4 billion, the company’s turnover was almost double the levels in the pre-pandemic period when its annual revenue was at $55 billion. It also puts Jamaica Broilers on track towards a milestone that only a handful of stock market companies have attained: $100 billion in sales.
Jamaica Broilers, which operates plants in Jamaica and the United States, made a profit of $4.3 billion for the year, up 39 per cent from $3 billion, despite $1.09 billion in losses from the discontinuation of its Haiti operation, ending the production and sale of chickens, layer pullers, table eggs and animal feeds there in October 2022.
The company exited Haiti amid political upheavals, and years of losses that were also caused by a series of natural disasters, and has turned its focus to building out its US operation further, where the Best Dressed Chicken line is available in over 20 states.