Jamaica Broilers Group reported a strong quarter for its U.S. operations for the first quarter of the 2023-24 fiscal year, but its Jamaican operations did not fare quite as well when compared to the same quarter from a year ago.
U.S. operations
“Our U.S. operations reported a strong segment result of JA$1.2 billion (US$7.8 million) for the first quarter, which was 44% above last year’s result,” the company stated in its recent interim report. “We did have a 3% decline in total revenue due primarily to falling prices in most of our product lines. However, a 56% year-over-year increase in poultry volumes assisted in offsetting the negative market pressures.”
The report was singed by Jamaica Broilers Chairman Robert E. Levy and President & CEO Christopher E. Levy.
Jamaica Broilers officially entered the U.S. poultry processing industry in 2019 when it signed an agreement to acquire the former Gentry’s Poultry Company plant in Ward, South Carolina. The company had previously acquired a hatchery in Pennsylvania from Bell & Evans and a feed mill in Georgia from Crystal Farm Mills.
Since that time, Jamaica Broilers, doing business in the United States as The Best Dressed Chicken, has emerged as the 29th largest broiler producer in the U.S., having processed 1.05 million pounds of ready-to-cook chicken on a weekly basis during the past year, according to information from the WATTPoultry.com Top Poultry Companies Database.
“Our South Carolina plant, which produces The Best Dressed Chicken line of products, has gained impressive market acceptance in the United States,” the company stated in its report.
Jamaican operations
The company reported a segment result of JA$1.7 billion for the quarter, a 7% decrease when compared to the same quarter for the previous fiscal year.
“The reduction was mainly driven by increased pressure from high levels of imports, affecting baby chick sales to our small farmers,” the report stated.
Operations ceased in Haiti
Jamaica Broilers did include in its report year-ago figures from its Haiti operations, but no such figures existed for the most recent quarter. The company reported in October 2022 that it was not financially viable to do business in Haiti and that it was winding down operations there.
