There was a 19 per cent decline in profit at GraceKennedy during the first six months of its financial year.
Net profit amounted to J$2.2 billion, representing a $516 million decline over last year.
GraceKennedy says $423 million was due to a non-recurring gain in 2016 which was realised on the liquidation of some non-operating subsidiaries.
GraceKennedy says, if this was excluded, net profit would have declined by 5.5 per cent.
During the January to June period revenue increased by $2.3 billion to $46.4 billion.
Meanwhile, GraceKennedy continues to feel the effects of the temporary ban on the sale and importation of corned beef from Brazil.
It says, although the ban has been lifted in all its territories, it continues to affect the revenues and margins of its Jamaican and regional foods businesses.
GraceKennedy says it continues to implement strategies to mitigate the impact on its business.
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