Jamaica Broilers Group ended its first quarter for 2021 with a decline in profit.
During the May to July period it recorded net profit of $275 million - a 28 percent drop, when compared to the same period in 2020.
This was mainly due to a 13 per cent reduction in the company's gross margin ratio following a rapid increase in procuring raw materials, and associated shipping costs.
Jamaica Broilers revenues for the three months amounted to $17.6 billion - a 40 per cent improvement over the $12.6 billion earned for the May to July period last year.
The US operations earned $580 million of the company's revenues.
Fontana increase in net profit
Fontana Pharmacy earned net profit of $512.3 million, for the financial year which ended June 30.
This was an improvement from the $276.5 million earned during the 2019/2020 financial year.
The company's revenue totaled $5.2 billion for the year compared to $4.5 million in the prior year.