Stephen Levy will resign from Jamaica Broilers Group Limited on May 3 after over 22 years. His leadership saw substantial revenue growth in the USA operations. Christopher Levy will take over during this transition. JBG’s recent financial reports indicate various performance metrics amid forthcoming audits and AGMs.
Stephen Levy will officially depart from Jamaica Broilers Group Limited (JBG) on May 3, concluding over 22 years with the family-operated poultry and agriculture firm. His resignation as both a director and employee was announced on February 28. Levy joined JBG in August 2002, becoming president of Wincorp International Inc. in May 2013 and later advancing to president of USA operations in 2016.
During his tenure, Levy significantly contributed to the company’s success, notably expanding annual revenues from US$10 million to over US$250 million in his leadership role. Following his departure, Christopher Levy, Group President and his brother, will lead the US operations. “As Mr. Levy pursues other opportunities, we pray God’s blessings upon him and his family,” noted the company’s secretary, Peter DePass.
Stephen Levy holds a substantial stake in JBG, with 3,382,600 ordinary shares as of October 26. He is also associated with JBGL Stockholders Nominee Limited, JBG’s largest shareholder, owning 16.50 percent of the company’s shares. JBG’s USA operations generated $33.45 billion in revenue in the fiscal year 2024, contributing to 36 percent of the group’s overall $92.96 billion revenue.
The USA segment reported a 55 percent increase in results to $5.88 billion, albeit largely due to a one-time asset sale gain of $2.27 billion. The segment saw $54.12 billion in assets and incurred $640.56 million in capital expenditures during the same year. JBG’s upcoming third-quarter financial report, initially scheduled for March 11, has been postponed to March 19, marking an unusual delay for the company in recent years.
JBG’s financials for the past six months revealed a minor revenue increase to $47 billion, while operating profits experienced a decline of nine percent, totaling $4.05 billion. Concurrently, net profit decreased by 13 percent to $2.21 billion. The company’s stock closed at $35.02, reflecting a three percent decrease in 2025, with market capitalization at $42 billion, down from a peak of $42.31.
The operating fiscal year for JBG concludes on May 3, and audited financials by PricewaterhouseCoopers (PwC) are anticipated to be available by July 2. The company plans to hold its 67th Annual General Meeting (AGM) in October, continuing the virtual format utilized since the COVID-19 pandemic began.
Stephen Levy’s departure from Jamaica Broilers Group Limited marks the end of a significant 22-year career. His contributions to the strengthening of the USA operations are notable, particularly in revenue growth. The company’s financial performance and upcoming reports reflect both challenges and opportunities as they transition leadership and navigate recent delays in financial disclosures. JBG’s future growth will depend on its ability to adapt and respond to market conditions and operational changes.
Original Source: www.jamaicaobserver.com
