GraceKennedy Profits Increase by 28%

GraceKennedy Limited is reporting another profitable quarter characterized by product innovation and improved efficiencies. The Group achieved revenues for the period of $35.37 billion, an increase of $8.93 billion or 33.8% over the corresponding period in 2006. The Net Profit Attributable to Shareholders increased by $365 million, moving from $1.308 billion in 2006 to $1.673 billion, an increase of 27.9%.

 

In the Interim Report to Shareholders, GraceKennedy’s Chairman & CEO Douglas Orane noted that all the companies in the GK Foods division had shown profitable results. He pointed to such developments as the launch in Canada and the United States of Grace Caribbean Traditions, a line of Jamaican-inspired frozen meals, as well as expanded distribution of the Encona and Nurishment brands carried by the recently acquired WT Foods.