Jamaica Broilers Group yesterday reported after-tax profit of $57.75 million for the first quarter to July 22, representing a return to stockholders of 4.4 cents a share, approximately 16 per cent higher than the corresponding period last year.

Broilers, for the period, had turnover of $2.277 billion, 12 per cent more than last year when the company's business had been negatively hit by hurricanes Dennis and Emily.

After normal expenses, as well as a $10 million provision for a fire in June at the group's feed mill, the company returned operating profit of $82 million, 12.5 per cent more than for the corresponding period last year.

But there were financing costs $9.44 million down from $13.3 million in last year's first quarter, and taxation of $18.68 million up from last year's $12.9 million, which ate into the return to shareholders.

Poultry operations

The poultry operations, with total revenue of $1.33 billion for the first quarter, remained Broilers' largest business segment, its turnover approximating twice that of the feed and farm supplies division, whose sales reached $686.8 million.

The group's fresh-water fish operations had turnover of $92.2 million for the quarter.

Significantly, what Broilers listed as "other" - sale of feed ingredients, cattle rearing and energy supply - earned approximately $390 million in the first quarter, far outstripping fishing but half the amount of its feed and farm operation.