JBG Year-End Profit Edges Down by 40.8%

• Jamaica Broilers Group Limited reported an audited net profit attributable to shareholders of $1.40Bn (EPS: $1.37) for the year ended May 2, 2020. This represents a 40.8% (or 965.49Mn) contraction relative to 2019, despite a 1.3% (or $690.00Mn) increase in revenues.
• This outturn can largely be explained by a 9.8% (or $880.49Mn) increase in administrative expenses, a 19.7% (or 195.217Mn) increase in finance cost, a 37.4% (or $218.71Mn) decline in other income as well as a 90.1% (or $330.36Mn) decrease in finance income. 
• The stock has fallen 36.4% since the start of the calendar year. JBG closed Monday’s trading session at $26.01 and currently trades at a P/E of 19.0x earnings, which is below the Main Market Distribution & Manufacturing Average of 19.4x.

(Source: JBG Financials)