GraceKennedy Reports Over $2b in Profit for 1st Quarter of 2025

GraceKennedy, GK, has reported profit after tax of over $2 billion for the first quarter ended March 31, 2025.

This represented an increase of 0.4 per cent or just over $9 million over the company’s performance in 2024 for the same period.

For the period, GK achieved revenues of $44 billion, which represented an increase of 4.4 per cent or $1.87 billion over the corresponding period in 2024.

The report noted profit before tax was $3.16 billion. This was 0.4 per cent or more than $12 million higher than prior year.

Net profit attributable to stockholders was over $2 billion. This was 3 per cent or over $64 million higher than the corresponding period in 2024.

However, the company did note a drop in its money transfer services portfolio, particularly in Guyana and Trinidad and Tobago.

The report said the conpany’s money services segment recorded a decline in profits year over year, largely attributed to reduced remittance flows and transaction volumes in Guyana and Trinidad and Tobago.

GK says this decline was partially offset by the continued growth of our market share in Jamaica, which is our largest remittance market.