Jamaica Producers Group Ltd (JP) Jun 2021 (Q2) Earnings Are Out – Sales Up 36%, Profits More Than Double

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Jamaica Producers Group Ltd (JP) has released their June 2021 (Q2) numbers. Here are the highlights.

This Quarter (2021Q2) vs Same Quarter Last Year
  • Revenue totaled $5.92b vs $4.36b (35.70%)
    JP’s Food & Drink Division is the largest contributor to the revenues of the Group. Mgmt says, Jamaica Producers Group has been organised to generate revenues from a diverse range of business lines and, importantly, a diverse range of markets.
  • Net Income / Net Loss totaled $774.31m vs $378.70m (104.47%)
    During Q2, JP Food & Drink benefited from a solid performance in their European juice business, and growth in snacks, fresh produce, baked goods and prepared tropical frozen food business serving the US market.
    Also, Kingston Wharves benefited from growing shipping volumes (bulk and breakbulk cargo and automotive shipments) to Jamaica and the region. As a result of a spike in overall demand for international shipping (relative to the comparable period in 2020, which was severely affected by COVID-19 related lockdowns), the UK-based shipping line and freight forwarding businesses both contributed to the improved profitability of the Division.
    Also, during the second quarter, JP completed the acquisition of a 50% interest in Geest Line Limited (“Geest”).  Geest is accounted for as an associated company within the Logistics & Infrastructure Division and made a positive contribution to the performance of the Group during the quarter.
Net Income / Net Loss
Quarterly Financials 658.77m 2019Q4 559.49m 2020Q1 378.70m 2020Q2 2.23b 2020Q3 571.75m 2020Q4 570.13m 2021Q1 774.31m 2021Q2

This is just a summary. For more charts, ratios and other details visit JP’s page here

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