GraceKennedy Group CEO Don Wheby
The GraceKennedy (GK) Group is reporting that it achieved exceptional growth in revenue last year, the best financial performance in the company’s 99-year history.
Revenues totalling $115.4 billion were realised by the group last year, reflecting an increase of $12.3 billion or 12 per cent over 2019.
Profit before other income increased by 82 per cent over the prior year, from $3.7 billion to $6.8 billion.
There was a notable increase of 58.5 per cent in profit before tax for 2020, totalling $9.7 billion, while profit after tax totalled $6.9 billion compared to $5.1 billion in 2019, an increase of $1.8 billion or 34.5 per cent.
Net profit attributable to the shareholders of the company was $6.2 billion, a $1.7 billion increase over 2019. Earnings per share increased by 38.9 per cent, to $6.28 in 2020.