September 22, 2026

Jamaica Broilers Group Limited (JBG)

Audited financials for the year ended May 2, 2026:

Jamaica Broilers Group Limited (JBG) for the year ended May 2, 2026, reported a 3% increase in Revenue from continuing operations totaling $74.63 billion compared to $72.75 billion in the corresponding period last year. Prior year figures have been restated to present the assets of The Best Dressed Chicken, Inc. — a wholly owned United States subsidiary sold during the last quarter of the financial year — as a discontinued operation. On a previously stated basis, revenue for the year ended May 3, 2025, was $98.57 billion.

Cost of Sales amounted to $52.97 billion (2025: $57.45 billion), this represents a decrease of 8% year over year. Consequently, gross profit increased by 42% to $21.66 billion compared to $15.30 billion for the year ended May 3, 2025.

Other income increased by 228% to close at $623.62 million (2025: $190.27 million), while Distribution Costs increased by 24% from $2.88 billion in 2025 to $3.58 billion in the period under review. Administration and other expenses for the year ended May 2, 2026, amounted to $10.99 billion, a 12% decrease relative to $12.45 billion reported in 2025.

Consequently, Operating Profit for the year ended May 2, 2026, amounted to $7.71 billion, a 4,512% improvement from operating profit of $167.10 million reported in 2025.

Finance Costs totalled $2.49 billion, a 2% decrease from the corresponding period last year (2025: $2.53 billion). The Group also booked a finance expense of $67.40 million relative to finance income of $46.86 million in 2025.

Profit before taxation from continuing operations for the year ended May 2, 2026, amounted to $5.15 billion, up from a loss before taxation of $2.32 billion reported in 2025.

Taxation for the year ended May 2, 2026, had a 247% increase to reach $2.19 billion (2025: $630.58 million). As such, Net Profit from continuing operations for the year amounted to $2.96 billion, compared to a net loss from continuing operations of $2.95 billion reported in 2025.

However, the Group booked a Net Loss from discontinued operations of $9.76 billion (2025: $4.27 billion). This comprised a $6.00 billion net loss from the operations of The Best Dressed Chicken, Inc. — which recorded revenue of $22.07 billion (2025: $25.82 billion) and an operating loss of $4.87 billion (2025: operating loss of $3.57 billion) — together with a $3.75 billion loss on the disposal of the subsidiary’s assets. Proceeds from the disposal were $4.98 billion against a carrying value of $8.69 billion for the assets disposed.

As such, Net Loss for the year amounted to $6.80 billion, a 6% reduction from the $7.22 billion net loss reported in 2025.

Consequently, Loss Per Share for the year amounted to $6.79 (2025: LPS: $7.21), comprising earnings per share of $2.96 from continuing operations and a loss per share of $9.75 from discontinued operations. The weighted average number of shares used in these calculations are 1,001,169,000 in 2026 and 1,001,318,000 in 2025.

Notably, JBG’s stock price closed the trading period on September 21, 2026, at a price of $12.26.

Balance Sheet Highlights

The company’s assets totalled $90.94 billion (2025: $54.74 billion). The movement in total assets was mainly due to a $37.98 billion increase in Non-Current Assets, driven almost entirely by a $38.26 billion growth in Property, Plant and Equipment following the Group’s adoption of the revaluation model for land and buildings during the year. The carrying value of land and buildings increased from $9.6 billion to $60.1 billion, giving rise to a revaluation adjustment of $39.45 billion recognised in other comprehensive income. Current Assets declined by $1.78 billion, which saw decreases in Biological assets of $2.44 billion, Inventories of $608.46 million and Taxation recoverable of $542.55 million, while Cash increased by $1.73 billion and Receivables grew by $145.79 million.

Total Current Liabilities fell to $33.55 billion (2025: $63.05 billion) as short term Borrowings were reduced to $16.23 billion from $42.20 billion and the Group’s liabilities under supplier finance arrangement of $1.66 billion were extinguished. Non-current Borrowings rose to $21.87 billion (2025: $270.13 million), reflecting the refinancing of debt to longer maturities. Net Current Liabilities consequently narrowed to $6.86 billion from $34.58 billion.

Shareholders’ equity was $22.91 billion (2025: shareholders’ deficit of $10.03 billion), representing a book value per share of $22.89 (2025: book deficit per share of $10.02). The accumulated deficit widened to $15.98 billion (2025: $9.30 billion), while Reserves grew to $42.05 billion (2025: $2.41 billion) on the back of the revaluation surplus.

The financial statements were audited by Ernst & Young and approved for issue by the Board of Directors on September 21, 2026. The auditors identified the revaluation of land and buildings and the sale of the assets of Best Dressed Chicken, Inc. as Key Audit Matters. Subsequent to year end, the Board engaged an independent digital forensics firm to complete a review of electronic communications relating to the accounting irregularities identified during the 2024/2025 financial year; the review did not identify any additional transactions or irregularities beyond those already reflected in the restated prior period statements.

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