August 17, 2026
Consolidated Bakeries (Jamaica) Limited (PURITY)
Unaudited financials for the six months ended June 30, 2026:
Consolidated Bakeries (Jamaica) Limited (PURITY) for the six months ended June 30, 2026, reported a 7% increase in Revenue totalling J$975.71 million compared to J$908.02 million for the corresponding period of 2025, reflecting the first quarter performance driven by the earlier Easter season and continued demand across the Company’s product portfolio. Revenue for the second quarter declined 3% to close at J$402.81 million relative to J$414.07 million for the comparable quarter of 2025.
Cost of sales amounted to J$586.92 million (2025: J$543.94 million), an increase of 8% year over year, while cost of sales for the quarter edged down 1% to J$236.59 million (2025: J$238.63 million). Consequently, Gross Profit for the six months rose 7% to J$388.79 million compared with J$364.08 million booked for the six months ended June 30, 2025. The Company booked Gross Profit of J$166.22 million for the second quarter, a 5% decline versus J$175.45 million reported for the similar quarter of 2025. Gross margin closed the period at 39.8% relative to 40.1% in the corresponding period of 2025, which management attributed to pricing discipline, product mix optimisation, procurement efficiencies and production effectiveness notwithstanding inflationary pressures affecting key raw materials.
Total operating expenses for the six months ended June 30, 2026, amounted to J$352.10 million, a 10% increase relative to J$319.26 million reported in 2025. Depreciation rose 18% to J$28.74 million (2025: J$24.31 million) reflecting higher charges associated with recent capital investments, Selling and distribution expenses increased 12% to J$143.59 million (2025: J$127.86 million), and Administrative and other expenses grew 8% to J$179.76 million (2025: J$167.09 million). For the second quarter, total operating expenses increased 6% to J$173.80 million (2025: J$163.75 million), with Depreciation up 50% to J$14.42 million (2025: J$9.63 million) and Selling and distribution expenses up 8% to J$70.83 million (2025: J$65.33 million), while Administrative and other expenses were flat at J$88.55 million (2025: J$88.78 million).
As a result, Profit from operations for the six months ended June 30, 2026, amounted to J$36.69 million, an 18% decline relative to J$44.81 million reported in 2025. For the second quarter, the Company recorded an operating loss of J$7.58 million relative to an operating profit of J$11.70 million for the comparable quarter of 2025.
Interest and Other income advanced to J$6.82 million (2025: J$761,030), while for the quarter it amounted to J$2.21 million (2025: J$883,810). Finance costs increased 35% to J$17.96 million (2025: J$13.30 million), reflecting higher borrowings used to finance capital expenditure and support working capital requirements. Finance costs for the quarter rose 28% to J$9.02 million (2025: J$7.05 million).
Consequently, Profit before Taxation totalled J$25.55 million, a 21% decrease from the J$32.27 million reported for the six months ended June 30, 2025. For the second quarter, the Company recorded a Loss before Taxation of J$14.38 million relative to a profit before taxation of J$5.53 million in 2025.
Taxation for the six months amounted to J$6.70 million, in line with the J$6.69 million reported in 2025, while a tax credit of J$3.28 million was recognised for the second quarter (2025: nil). As such, Net Profit for the six months ended June 30, 2026, had a 26% decrease to reach J$18.85 million (2025: J$25.59 million). For the second quarter, the Company booked a Net Loss of J$11.10 million relative to a Net Profit of J$5.53 million reported for the similar quarter of 2025.
Consequently, Earnings Per Share for the six months amounted to J$0.08 (2025: EPS: J$0.11), while Loss Per Share for the quarter totalled J$0.05 (2025: EPS: J$0.02). The twelve-month trailing LPS was J$0.001, and the number of shares used in these calculations was 222,709,171.
Notably, PURITY’s stock price closed the trading period on August 14, 2026, at a price of J$1.34.
Balance Sheet Highlights
The Company’s assets totalled J$2.07 billion (2025: J$2.08 billion), a marginal reduction of J$6.09 million. Notably, Trade and other receivables led the growth in total assets with an increase of J$23.29 million or 16% to close at J$165.09 million. Investments of J$15.73 million were recognised during the period (2025: nil) and Inventories increased J$5.12 million or 4% to J$127.73 million. Total current assets consequently rose 6% to J$370.43 million (2025: J$349.80 million). These increases were offset by a J$23.50 million or 28% decline in Cash and cash equivalents to J$61.88 million, reflecting expenditure on capital projects and investment activities, and a J$26.72 million or 2% reduction in Property, plant and equipment to J$1.70 billion as depreciation charges of J$28.74 million outpaced acquisitions of J$11.59 million.
Shareholder’s equity was J$1.62 billion (2025: J$1.63 billion), a marginal decline of 1%, representing a book value per share of J$7.28 (2025: J$7.34).
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