PJG reports 5% increase in Q3 profits; Specialty Foods division records 94% profit growth

November 13, 2026

Pan Jamaica Group Limited (PJG) recorded an increase in revenue and profits for the third quarter of 2026, with stronger performances from several of its businesses helping to improve the company’s overall results.

For the three months ending September 30, 2026, the Group’s revenue increased by 9 per cent to $12.8 billion, while net profit rose by 5 per cent to $2.3 billion compared with the same period last year.

The improved results were supported by strong performances in the Specialty Foods and logistics divisions, as well as the recovery of some businesses that were affected by challenges earlier in the year.

For the first nine months of 2026, Pan Jamaica recorded total revenue of $35.6 billion, representing a 7 per cent increase compared with the same period in 2025.

However, profits attributable to shareholders stood at $3.3 billion, reflecting the effects of earlier weather-related disruptions and the absence of some one-time gains recorded last year.

Despite these challenges, the company maintained a strong financial position, with total assets of $154 billion and cash and short-term investments of $16.6 billion.

Group Executive Vice Chairman and Chief Executive Officer Jeffrey Hall said the latest results show that the company’s businesses are recovering and benefiting from investments made to improve operations and support expansion.

Hall said several businesses that experienced difficulties earlier in the year had started to recover, while investments in other areas were beginning to contribute to the Group’s growth.

He added that the company would continue to focus on improving efficiency, strengthening its businesses and making investments that would support long-term growth.

One of the strongest performers was the Specialty Foods division, which recorded a 94 per cent increase in third-quarter profit before finance costs and taxes, reaching $313 million.

Revenue for the division also grew by 12 per cent to $7.3 billion.

The improved performance was supported by continued growth at The Juicy Group, contributions from the company’s newly acquired facility in Denmark and better profit margins at its manufacturing facility in Belgium.

In Jamaica, JP Farms returned to full production and profitability during the quarter after completing repair and recovery work following Hurricane Melissa.

The recovery is an important step for the Group’s agricultural operations, which were badly affected by the hurricane.

The logistics division also recorded growth during the period.

The Group’s logistics operations recorded a 49 per cent increase in third-quarter revenue following its July acquisitions of West Indies Freight and Jamaica Trading Services.

Geest Line also recorded a 15 per cent increase in revenue and returned to profitability as its shipping schedules returned to normal following earlier weather-related disruptions.

Kingston Wharves also recorded growth in its logistics services, helping to make up for lower revenue from its terminal operations.

In the Financial Services division, Sagicor recorded its strongest quarterly performance so far in 2026. Its net profit for the third quarter increased by 40 per cent compared with the second quarter, supported by growth in its banking and insurance businesses.

In October, shareholders also approved a proposed reorganisation to establish Sagicor Group Caribbean as a regional financial services company. The proposal is still subject to the required court and regulatory approvals.

Meanwhile, the Property and Infrastructure division maintained steady performance.

The ROK Hotel benefited from strong room occupancy and higher room rates during the quarter.

Work also continued on the Rio Cobre Water Project, which is expected to provide an additional 15 million gallons of water daily to St. Andrew and St. Catherine when it becomes operational in the second quarter of 2027.

Hall said the Group would continue to strengthen its existing businesses while looking for new opportunities to expand.

He noted that the company was carefully deciding where to invest its money, with a focus on improving productivity, building on the strengths of its businesses and creating long-term value.

Looking ahead, Pan Jamaica Group said it would focus on bringing its newly acquired businesses into its operations, improving efficiency and strengthening its leading businesses across the different sectors in which it operates.

The Group also said it would continue to manage its investments carefully as it works towards maintaining growth over the coming years.