Jamaica Broilers sees decline in profit

Jamaica Broilers Group earned less profit at the half  year mark when compared to the six month period in 2020.

During the period ended October, the company's net profit was $872 million  - a 21 per cent decrease.

The decline was primarily due to foreign exchange gains of $290 million  in 2020 versus foreign exchange losses of  $70 million  this year. 

Group revenues were 35 percent higher at $36 billion.

Jamaica Broiler's local operations saw a 13 per cent decline in earnings of  $1.5  billion.

This was caused by increased grain prices and international shipping costs.