GraceKennedy ends nine month period with J$3.75 billion profit

GraceKennedy has ended the nine month period from January to September 30 with a $3.75 billion profit.
This was a $51.4 million  or 1.4 per cent increase over last year.
During the period, GraceKennedy raked in $69.3 billion in revenues which were four per cent or $2.6 billion higher.
The food trading segment recorded higher revenue and pre-tax profit.This was primarily driven by the Jamaican foods business.
Meantime, GraceKennedy says its division responsible for food distribution in the Caribbean and Latin America continues to be affected by the slow recovery of  corned beef sales.
This follows a ban on the sale and distribution of  corned beef in several of  its markets earlier this year.
In addition, the markets in St. Maarten, British Virgin Islands and Dominica were significantly affected by hurricanes Irma and Maria.
GraceKennedy says its distribution partners in the affected markets are working to have normality restored to their operations.


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