Jamaica Broilers Group Profit Dips

• For the three-month period ended July 2019, Jamaica Broilers Group reported a 12.7% fall-off in net profit. Net profit ended the quarter at $361.01Mn (EPS: 35.81¢) down from $413.38Mn (EPS: 38.58¢) reported for the corresponding period in the prior year.
• The contributing factors to the decline in profit were a decline of $263.60Mn (or 87.8%) in finance income; a 60.3% (or $116.18Mn) decline in other income; and a 2.1% (or $9.20Mn) increase in distribution costs.
• The stock has risen 14.7% since the start of the calendar year, closing yesterday’s trading session at $33.39. The stock currently trades at a P/E of 14.69x which is below the Main Market Distribution & Manufacturing average of 20.12x.

(Source: JBG Financials)