Profit attributable to stockholders up 3.0%, to J$2.22 billion
GraceKennedy Limited (GK) has announced its financial results for the three-month period ended March 31, 2025. The Company reported revenue of J$44.22 billion, representing an increase of 4.4% or J$1.87 billion over the corresponding period in 2024. Profit before tax (PBT) was J$3.16 billion, 0.4% or J$12.70 million higher than the prior year. Net profit attributable to stockholders was J$2.22 billion, up 3.0% or J$64.18 million compared to the same period last year. Earnings per stock unit for the period were J$2.25, compared to J$2.18 in 2024.
Commenting on the results, GK Group CEO Frank James stated, “We remain focused on delivering sustainable growth, and our 2025 performance to date reflects the strength of our diversified Group and the resilience and agility of our team. Notwithstanding global economic headwinds, we continue to build momentum across both our food and financial divisions and remain committed to creating lasting value for all our stakeholders while we advance our vision of becoming the number one Caribbean brand in the world.”
GK Group CFO Andrew Messado has also announced the declaration of the company’s second dividend payment for 2025. “In keeping with our commitment to deliver consistent returns to our shareholders, we are pleased to declare a dividend of J$0.52 per stock unit, payable to shareholders on June 20, 2025, totalling approximately J$516 million,” Messado said.
Reporting on the performance of its business segments GK noted that its food segment, GraceKennedy Foods (GK Foods), recorded a strong first quarter, with growth in both revenue and PBT in 2025 compared to the same period of 2024, despite a challenging global trade environment. To manage the evolving global tariff landscape, GK Foods has implemented targeted strategies to enhance its resilience and protect its consumers, including optimizing its sourcing strategies and reinforcing inventory and cost management. GK Foods also continues to expand its presence in the food service channel and enhance supply chain efficiency and service delivery.
Meanwhile, GraceKennedy Financial Group (GKFG) also reported revenue growth in the first quarter of 2025 compared to the same period in 2024. Profits increased in both the Insurance and Banking & Investments segments, supported by growth in motor and property insurance and the expansion of First Global Bank’s loan portfolio, respectively. GK’s Money Services segment declined in profitability however, mainly due to lower remittance flows and transaction volumes in Guyana and Trinidad & Tobago. Notwithstanding, Money Services continued to see growth of its market share in Jamaica, its largest remittance market. GK remains optimistic about this segment, bolstered by the continued growth of its digital remittance platform, the GK One app, which is expected to further scale up and improve operational efficiency. The app is slated for launch in the Cayman Islands, Guyana, and Trinidad & Tobago later this year.
“As we look ahead, GraceKennedy remains guided by our core values of Honesty, Integrity, Trust, Commitment, Humility, and Respect, and our We Care ethos. We are confident in our strategy, proud of our team, and excited about the future. We are positioning ourselves for continued success in 2025 and the years to come, as we strengthen our impact in Jamaica, and around the world,” said James.
