Decline in profit for Jamaica Broilers - Fontana records gains

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.

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