LEADING CHICKEN supplier Jamaica Broilers Group has posted audited results for the year ended April 29, 2000, which show a return to profits after the huge restructuring implemented in 1999.
For the year ended 29 April 2000, the Group made a gross profit of $1.2 billion slightly up on last year's figure of $1.06 billion. Turnover also improved coming in at $5.4 billion, up on last year's figure of $4.9 billion.
All the Group's companies led by Best Dressed Chicken appear to have recovered somewhat from losses sustained by their operations last year. This is due in part to major changes made by the Group and an investment in technology that is now beginning to pay off.
The Group also appointed a new chairman in May of this year, Danny Williams, the Life of Jamaica founder.
Already efficiency levels at the Jamaica Broilers' Best Dressed Chicken Processing plant in St. Catherine have increased significantly with the plant now able to process 10,800 birds per hour, using one shift instead of the previous two.
As a result of cost cutting measures operating profit rose from $255.1 million in 1999 to $319.4 million this year with profit before extraordinary items rising to $126 million from a loss the previous year of $176 million. The Group registered a net profit of $128.5 million, a notable improvement on 1999's loss of $232.4 million.
Senior vice-president (finance) of Jamaica Broilers, Philip Levy, speaking to Wednesday Business said: "This year we have done well turning losses accrued last year into profits this year. Last year we had substantial redundancy payments to contend with and were forced to close our English operation, Pershore Poultry with write off costs of $51 million. Our broilership has shown significant improvement and our feed mill has gone from strength to strength. We have made a concerted effort to put in place greater efficiency measures and made investments in technological areas to aid production and as you can see from our published figures it has paid off."
