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GK posts 1st quarter increase in post-tax profit of 1.7%

GraceKennedy Limited saw a 1.7 per cent increase in post tax profit at the end of its first quarter.
 
For the three-month period, ended March, the company realised a net profit of J$2.3 billion. 
 
At the end of the first quarter last year, GK made $2.26 billion.
 
Total revenues for the conglomerate amounted to $42.35 billion for the quarter.
 
This represents an increase of 8.3 per cent, or $3.25 billion over the corresponding period in 2023.
 
GK's Jamaican food business recorded growth in the first quarter of 2024, with its distribution companies, manufacturing arm, and retail business, achieving growth in revenue and profitability. 
 
The company's international food business also recorded revenue growth, led by Grace Foods UK. 
 
GraceKennedy Financial Group also delivered increased revenue and profit before tax, along with GK's insurance segment.
 


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