GraceKennedy managing impact of COVID-19

GracKennedy Group has said because of its diversified operations, it has so far been able to manage the impact of the COVID-19 pandemic on its operations.

For the three months ended March 31, GraceKennedy achieved revenues of $28.8billion - an 11 per cent or $2.9 billion increase over the corresponding period last year.  

Net profit was up 42.8 per cent at $1.45 billion.

GraceKennedy's domestic foods distribution business experienced growth in both revenue and pre-tax profits, coupled with improved margins. 

For the Financial Services Division, First Global Bank experienced strong growth in its loan and deposit portfolios, while the Insurance segment reported an increase in revenue, and strong operating performance.