Durrant Pate/Contributor

Amid its financial accounting controversy over its American operations, Jamaica Broilers Group (JBG) has developed a provisional financial reporting format to increase transparency with its shareholders.

The board of directors has approved this new reporting format through which it will be providing a routine snapshot of the group’s profit performance on a monthly basis, until the reports are finalised through its quarterly submission. These reports will be submitted for the first six months of the 2025-26 financial year. 

President and CEO Christopher Levy emphasized, “These are provisional, unaudited financial results, which are preliminary and subject to change upon the official release of audited results for 2024/2025 and the quarterly results for 2025/2026, prepared in accordance with IFRS Accounting Standards and the rules of the Jamaica Stock Exchange (JSE).”

Latest JBG financial returns

This first monthly provisional financial report for May 2025 shows a 50 per cent increase in operating profit, which jumped to J$853 million, up from J$568 million in May 2024.

Revenues climbed 16 per cent to J$8.18 billion, up from J$7.08 billion a year ago. Gross margin rose 12 per cent to J$1.88 billion, up from J$1.67 billion.

Last month, Jamaica Broilers found itself steeped in controversy as questions arose around whether the accounting books for the group’s American were doctored to give a better performance than the true state of affairs, or were mere financial and/or accounting errors made in innocence.

However, JBG, Jamaica’s largest poultry company, is shying away from admitting to any willful act but acknowledged, “unsubstantiated accounting valuation methodologies affecting several financial statement line items, including inventories and biological assets.”

“The issues identified appear to constitute material prior period errors and will, once determined and finalised, be fully corrected following the conclusion of the annual financial audit for the company,” JBG admitted in a regulatory filing with the JSE, where its shares are traded.