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 $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 a Business 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.

Contextually, JP earns 50 per cent of its nearly J$9 billion in total revenues in euros, 30 per cent from sterling and US dollars, and the remaining 20 per cent in Jamaican dollars.

This week the European Central Bank, in collaboration with national central banks, began a policy of buying back over 1.1 trillion euros in bonds over a year. QE aims to spur investment, consumer spending and prevent deflation.

Fresh juice producer, AL Hoogesteger Fresh Specialist BV based in the Netherlands, remains JP’s largest single business in the group defined by revenues, financials indicated. During the year the juice maker grew sales volumes by expanding into new export markets within Northern Europe. During the year Hoogesteger launched a new line of fruit & vegetable juices known as ‘super juices’; oatmeal smoothies; and juice and herb-infused waters.

JP Europe, along with earnings from JP Tropical and Corporate segments, allowed JP to make $358 million in net profit attributable to shareholders on revenues of $8.8 billion for its December 2014 year end or 42 per cent more profit year on year.