Jamaica Producers Group is reporting consolidated revenues of more than $19-billion in the company’s 2018 annual report.
This represents an increase of 21% over the 2017 results.
Net profit attributable to shareholders for 2018 was 816 million dollars, an increase of 23% over the prior year.
And as at the end of the reporting period, the Group had shareholders’ equity of just over $12-billion.
Eliminating the impact of movements in foreign exchange rates, the Group increased its base local currency revenues by 19% year-on-year.
Group Managing Director for JP Group, Jeffrey Hall says this growth was achieved across the board, with the Logistics and Infrastructure Division recording revenue growth of 12%.
The Food and Drinks Division recorded growth of 29%.
The Group grew its gross profits by 16% to $6-billion and saw a slight decline in its overall gross margin, from nearly 32% to 30.5%.
Operating profits grew by 17% to nearly $3-billion.