Financial Performance For 2016 A Result Of Initiatives Taken To Position The JP Group As Jamaica’s Leading Private Investor In The Business Of Logistics – Charles Johnston
Chairman of the Jamaica Producers Group Limited Charles Johnston, is describing the company’s just released financial performance for 2016 as the result of a series of initiatives taken over several years to position the Group as Jamaica’s leading private investor in the business of logistics. This he said while deploying an acquisition strategy to build a diversified international specialty food and drink group, and in so doing, generate value for shareholders.
For 2016, Jamaica Producers Group earned record net profits attributable to shareholders of JA$3.9 billion as revenues increased 39% year over-year to $12.1 billion.
Shareholders’ equity has increased by 63% since the start of the financial year and now stands at $10.4 billion.
The strategy he said has been very successful when measured in terms of its return on investment and the overall accretion to the net equity of shareholders.
Going forward into 2017 Jamaica Producers will be seeking to optimise the potential for greater synergy among its food and logistics businesses.
Other strategic initiatives will see JP relocating its head office activities from Oxford Road to their food production complex in Cross Roads and to Newport West as they seek a more focused revenue growth and cost control.
Commenting further on the company’s strategic outlook, he indicated that they will continue to strongly support initiatives involving new product development, service improvement and innovation. Jamaica Producers will also continue to selectively consider acquisition opportunities that fall within its areas of strategic focus and that do not compromise the strength of its balance sheet.BM
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