JP to benefit from European QE
KINGSTON, Jamaica – Conglomerate Jamaica Producers Group (JP), which earns half its revenues in euros, expects to benefit from the pumping of money into the European economy called quantitative easing (QE).
Concurrently, JP announced that its profit to shareholders increased to J$458 million or 42 per cent year on year.
“In general we expect a stronger consumer demand and expect a stronger Europe to facilitate growth. So overall it’s positive,” stated Jeffrey Hall, managing director at JP, in an Observer interview on Monday, when asked about QE. “It will drive consumer demand as Europe strengthens.”
The bulk of its euro revenues emanate from its juice line that sells to Scandinavia, Belgium, Germany, and the Netherlands.
Read more in tomorrow’s Business Observer.
