May 2023 Financial News

GraceKennedy Limited - Quarter 1 2023 Performance

May 12, 2023

Kingston, Jamaica, May 11, 2023 – GraceKennedy (GK) has released its unaudited financial results for the three-months ended March 31, 2023. For the period, GK achieved revenues of J$39.09 billion, representing an increase of 7.8% or J$2.84 billion over the first quarter of 2022.

The company also realized an overall increase in profit during the quarter. Profit before other income was J$1.96 billion, a J$414.8 million or 26.8% increase over prior year. Profit before tax (PBT) was J$3.09 billion, 20.6% or J$528.1 million higher than the corresponding period in 2022; while net profit after tax was J$2.26 billion, an increase of 20.7% or J$387.6 million over prior year. Net profit attributable to stockholders was J$2.12 billion, 22.4% or J$387.8 million higher than the corresponding period in 2022. Earnings per stock unit for the period was J$2.13, compared to J$1.74 in 2022.

Group CFO, Andrew Messado has announced a dividend payment of 50 cents per stock unit, payable on 16 June 2023, totaling approximately $495 million.

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The Trinidad and Tobago Stock Exchange Limited
Friday 12th May, 2023