November 12, 2026

GK reports 19% increase in profit as revenue reaches $139.6B

GraceKennedy (GK) Limited has reported a significant increase in profits for the first nine months of 2026, with the company earning 19.1 per cent more before taxes compared with the same period last year.

The Jamaican-based conglomerate recorded a profit before tax of J$10.7 billion for the nine months ending September 30, up from the corresponding period in 2025.

The company also saw its revenue increase by J$5.7 billion, or 4.3 per cent, reaching J$139.6 billion.

Net profit attributable to shareholders rose by 14 per cent to J$7 billion, while earnings per stock unit increased from J$6.19 to J$7.07.

The results reflect continued growth across several of GK’s businesses, including its food, insurance and banking operations.

Group Chief Executive Officer Frank James said the company’s performance demonstrates the strength of having different businesses operating across several markets.

He noted that although customers are becoming more careful about how they spend their money, GK continues to focus on improving its operations, strengthening its brands and expanding its services.

James said the company is also investing in new technology, developing innovative products and exploring opportunities to grow its presence in regional and international markets.

GK Foods recorded higher revenue and a double-digit increase in profit before tax, with both its Jamaican and international operations contributing to the growth.

In Jamaica, the company’s food distribution business performed well, supported by strong sales from its popular Grace brand. The brand also continued to perform positively in overseas markets.

Another major development was the recovery of Grace Food Processors Meats, the company’s manufacturing facility in Westmoreland, which was badly damaged by Hurricane Melissa in 2025.

The company reported that the facility returned to its production levels before the hurricane by the end of September 2026.

Meanwhile, GK’s financial services operations also delivered positive results, recording double-digit increases in both revenue and profit before tax.

The growth was mainly driven by the company’s insurance and banking and investment businesses.

However, its Money Services division experienced slight declines in revenue and profit because of changing market conditions and pressure on profit margins in some markets.

Despite these challenges, GK’s remittance business in Jamaica continued to perform well, recording double-digit profit growth and gaining a larger share of the market.

Its foreign currency trading business, FX Trader, also delivered a strong performance.

The company’s digital financial services platform, GK One, continued to strengthen its position in Jamaica’s mobile wallet market.

The app recorded double-digit growth in both remittance customers and transaction volumes, showing that more people are using it to send money and access financial services.

GK One allows customers to send and receive money, pay bills, top up mobile phones, access insurance services, apply for credit cards and loans, and benefit from rewards.

During the nine months, the company also expanded the app’s regional reach by launching it in Trinidad and Tobago.

James said GK remains focused on building a stronger and more competitive company while creating opportunities for long-term growth.

In the meantime, GK has announced another dividend payment for its shareholders.

Group Chief Financial Officer Andrew Messado said the company has declared a fourth interim dividend of J$0.80 per stock unit.

The payment, which amounts to approximately J$788 million, is scheduled for December 16, 2026.

This brings the company’s total dividend payments for the year so far to approximately J$2.6 billion, representing an increase of more than nine per cent compared with 2025.