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Jamaica Broilers fiscal Q3 profit climbs YOY

Jamaica Broilers Group Ltd. its normalized net income for the fiscal third quarter ended Jan. 31 was 28 Jamaican cents per share, a gain from 12 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$332.0 million, a gain from J$148.4 million in the year-earlier period.

The normalized profit margin rose to 3.7% from 1.9% in the year-earlier period.

Total revenue increased 16.3% year over year to J$9.05 billion from J$7.78 billion, and total operating expenses climbed 13.2% year over year to J$8.43 billion from J$7.44 billion.

Reported net income rose on an annual basis to J$405.7 million, or 34 cents per share, from J$188.5 million, or 16 cents per share.

As of March 12, US$1 was equivalent to J$115.23.