2774686
Grace Kennedy

For the third quarter of 2021, the GraceKennedy Group reported revenue of J$32.42 billion and profit before tax (PBT) of J$3.09 billion, compared to the corresponding period in 2020 which produced J$29.59 billion in revenue and J$2.79 billion in PBT.

According to the company, for the nine-months ended September 30, 2021, the GraceKennedy Group also recorded revenue of J$95.78 billion, representing an 11.2 per cent or J$9.65 billion increase over the corresponding period of 2020.

Further, it said profit before other income was J$5.88 billion, which is a 14.9 per cent or J$762.78 million increase over the corresponding period of 2020.

Profit before tax for the period was J$8.54 billion, which is 16.9 per cent or J$1.23 billion higher compared to the same period last year, and net profit after tax was J$6.23 billion, an increase of J$1.30 billion or 26.34 per cent over the corresponding period of 2020, the company explained.

It also noted that earnings per stock unit for the period was J$5.73 compared to J$4.47 for the same

period in 2020.

GraceKennedy also said that stockholders’ equity increased by J$5.16 billion to J$65.07 billion over the nine-month period.

“The market has responded to the Group’s strong performance with the GK stock price on the Jamaica Stock Exchange (JSE) appreciating by more than 50 per cent since the start of the year.

“This is relative to a less than two per cent increase in the overall JSE stock market index from December 31, 2020 to November 2, 2021,” the company added.