Stephen Levy will depart Jamaica Broilers Group Restricted on Could 3.
STEPHEN Levy shall be formally leaving Jamaica Broilers Group Restricted (JBG) on Could 3 after spending greater than 22 years with the family-run poultry and agriculture firm.
Levy’s departure from JBG was introduced on February 28 when it was revealed that he can be resigning as a director and as an worker efficient Could 3. Stephen Levy has been with the group since August 2002 and was president of Wincorp Worldwide Inc since Could 2013, earlier than he was promoted to president of the USA operations in 2016.
He was additionally re-elected as a director on the firm’s 66th annual basic assembly (AGM) held on October 23. Levy was first appointed to the board in March 2016 as an government director.
“He has held numerous administration and government positions within the group, culminating in his most up-to-date position as president of the corporate’s USA operations, the place he constructed annual revenues from US$10 million to over US$250 million. The Group President Christopher Levy will now oversee the corporate’s US operations throughout this transition interval. As Mr Levy pursues different alternatives we pray God’s blessings upon him and his household,” said the disclosure signed by Peter DePass, JBG’s firm secretary.
Stephen Levy is the brother of JBG Group President & CEO Christopher Levy and son of JBG chairman Robert E Levy. Robert Levy is the son of JBG co-founder Sydney Levy, who shaped the corporate in Could 1958 with Byron Coombs and Larry Udell.
Stephen Levy had 3,382,600 abnormal shares of JBG as of October 26 and was listed as a linked individual to JBGL Stockholders Nominee Restricted, which is the biggest shareholder with 197,810,899 shares or 16.50 per cent of the corporate.
JBG’s USA operations introduced in $33.45 billion in income or 36 per cent of the general $92.96 billion in income generated throughout the group for the April 2024 monetary 12 months. The USA operations noticed a 55 per cent rise in its section outcome throughout 2024 to $5.88 billion, however that was as a result of one-time $2.27-billion acquire on the sale of sure belongings held by Worldwide Poultry Breeders Hatcheries Inc. The USA operations had $54.12 billion price of belongings in 2024 with $40.92 billion in present belongings, with the section spending $640.56 million on capital expenditure within the interval. The USA section had whole liabilities of $32.43 billion, with $7.02 billion as non-current.
JBG’s third-quarter report for the interval ending January 25 was set to be printed on March 11, however has been delayed to March 19 attributable to delays in making ready the unaudited monetary statements. It is a first for the corporate in recent times because it has all the time been on time with the publication of its unaudited quarterly financials. It, nonetheless, skilled delays for its audited financials in current occasions attributable to delays in finishing the method with their auditors.
The group’s consolidated six months’ financials confirmed that its consolidated six months’ income was marginally as much as $47 billion, with working revenue down 9 per cent to $4.05 billion. The group’s consolidated internet revenue was down 13 per cent to $2.21 billion, with a trailing twelve months’ earnings per share of $5.77. The group’s USA operations noticed income rise three per cent to $17.85 billion, with the section outcome up eight per cent to $2.40 billion.
Group whole belongings closed October at $90.31 billion with present belongings at $61.55 billion, with inventories at $24.07 billion, organic belongings (cattle and poultry) at $27.36 billion, and money at $3.01 billion. Complete liabilities and shareholders’ fairness closed the interval at $57.64 billion and $32.67 billion, respectively.
JBG’s inventory value closed Tuesday at $35.02, which left it down three per cent in 2025 with a market capitalisation of $42 billion. The inventory peaked at $42.31 in early January. JBG’s 2025 monetary 12 months ought to finish on Could 3 based mostly on its non-conventional monetary 12 months. That will imply its financials that are audited by PricewaterhouseCoopers (PwC) needs to be launched by July 2. JBG’s 67th AGM would additionally seemingly be held round October in a digital format, which has been the usual for the reason that COVID-19 pandemic that has led to shorter conferences with basic shareholders viewing on-line.
