Pan Jamaica profit hits quarterly milestone
Published:Friday | September 12, 2025 | 12:08 AM
Pan Jamaica Group Limited delivered profit of $2.01 billion for shareholders in the second quarter ending June, up 91 per cent from the same period last year.
CEO Jeffrey Hall called the result a “milestone” as it surpassed previous records and broke through the $2 billion barrier.
Revenue for the quarter rose 23 per cent to $11.67 billion, driven by strong performance across Pan Jamaica Group’s diversified operations in property, financial services, logistics, and speciality foods. The company’s assets and footprint expanded after absorbed the operating assets of food and logistics group Jamaica Producers Group in April 2023.
Over six months to June, shareholder profit doubled from $1.8 billion to $3.7 billion.
Among Pan Jamaica Group’s four divisions, property and infrastructure was the only unit reporting a decline in operating profit – from $822 million to $716 million. However, the 2024 period was buttressed by a one-off gain in 2024. Revenue for the division rose 16 per cent to $2.4 billion, supported by higher occupancies and rate adjustments across its portfolio, including the ROK Hotel Kingston, Caribe Hospitality, Williams Offices, and Capital Infrastructure Group.
The speciality foods division doubled its operating earnings from $212 million to $420 million. It includes The Juicy Group, which produces fresh juices in Europe, and Caribbean Food Group, which makes tropical snacks, fresh fruit, and baked goods like rum cakes. The division contributed $11.8 billion in revenue, more than half of Pan Jamaica’s $21.4 billion total for the half-year.
Easter and summer juice sales boosted performance, while JP Farms is said to have rebounded strongly post-Hurricane Beryl, which hit in July 2024.
The global services division, which spans logistics, shipping, warehousing, tourism, and BPO operations, earned $2.5 billion at half-year, up 38 per cent year-on-year. Revenue rose 19 per cent to $7.2 billion, driven by higher shipping volumes on Geest Line and improved transshipment activity at Kingston Wharves Limited.
The financial services division, anchored by Pan Jamaica Group’s stake in Sagicor Group Jamaica, earned $2.6 billion, up 121 per cent year-on-year. Gains came from rising insurance revenues, stronger net interest income, and trading gains. The company noted this was a major turnaround from 2024, which had been affected by one-off accounting and actuarial adjustments related to Sagicor’s long-term insurance business.