Nov 2021 Financial News

GraceKennedy Limited - Press Release

Nov 16, 2021

The GraceKennedy Group (GKC) has released its financial results for the nine months ended September 30, 2021. For the period, GK recorded revenue of J$95.78 billion, representing an 11.2% or J$9.65 billion increase over the corresponding period of 2020. Profit before other income was J$5.88 billion, which is a 14.9% or J$762.78 million increase over the corresponding period of 2020. Profit before tax for the period was J$8.54 billion, which is 16.9% or J$1.23 billion higher compared to the same period last year; and net profit after tax was J$6.23 billion, an increase of J$1.30 billion or 26.34%.

Earnings per stock unit for the period was J$5.73 compared to J$4.47 for the same period in 2020, and GK’s stockholders’ equity has increased by J$5.16 billion to J$65.07 billion over the nine-month period. GK’s stock price has appreciated by more than 50% on the Jamaica Stock Exchange (JSE) since the start of the year. GraceKennedy Group CFO, Andrew Messado has announced a dividend payment of 55 cents per stock unit, payable on 16 December 2021, totaling approximately $545 million. For 2021, dividends have increased significantly over last year and now totals $1.9 billion.

The Trinidad and Tobago Stock Exchange Limited
Friday 12th November, 2021