Christopher Serju, Star Writer
On Friday, Best Dressed Chicken will cut the price of its A-grade whole chicken by $3 per kilogram ($3 for every 2.2 pounds) but the price reduction will not extend to other chicken products.
"We are constantly reviewing our prices and are happy to be able to offer a reduction at this time" Ian Parsard, senior vice-president, Finance and Corporate Planning, Jamaica Broilers Group, told the Star. "However, at this point it's restricted to Best Dressed Chicken A-grade whole bird. "There is no reduction on the price of the other range products."
He said the price was a result of a review of the company's December sales performance, which took into account major cost drivers like the movement in the foreign exchange and energy rates, as well as market conditions and impact of competition from imports.
Profits
Parsard disclosed that the reduction comes in the wake of company's half year results published in December and which showed a 30 per cent reduction in profits for the year on year.
"Our results are really showing that we've been under pressure and we have not taken further prices increases, notwithstanding. So $3 a kilogram is in fact very significant to the company at this time," he admitted.
"However, we have seen some movements down, energy costs etcetera, but when we look at it in total, we feel that it would be very good to pass on some reduction to the consumers at this point in time. So it's not the first time that Best Dressed Chicken has actually reduced its price, and we did that some time ago when costs had come down," he disclosed.
"And so we just want to be consistent and to show appreciation to our customers. They have been loyal to us, they have supported us over 50-odd years and when we can, we think it important that we are able to share some of the reduced burden to be able to just support them as well."
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