Jamaica Broilers Group is undergoing some massive changes after reporting some big losses in its most recent reports.

According to the company’s third-quarter report, the company reported a net loss of J$1.15 billion for the third quarter, a stark contrast to the J$1.3 billion profit during the same period the previous year. The downturn was largely attributed to issues in the US segment, which saw a J$2 billion or  US$13 million dip. 

Speaking on Taking Stock with Kalilah Reynolds, Taking Stock Analyst David Rose explained that JBG’s US operations have encountered several problems. 

“The report highlighted poor cost control and inefficiencies at their processing plants,” Rose said. 

In response, JBG has made significant management changes, including the departure of Stephen Levy, the President of the US operations, effective May 1. 

Group CEO Christopher Levy will take over direct control of the US division, supported by senior executives from Jamaica. 

It is also likely that the company will skip its usual dividend payments to focus on stabilizing operations and addressing financial losses. 

CEO Christopher Levy told Journalists at a private briefing with the media and broker analysts, that the company needs to correct operational issues and expressed optimism about the future, stating, “I think we have a good business, and I think that the unfortunate circumstance that we have found ourselves in could have been avoidable,” he said.