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Grace, Kennedy
& Co. Ltd. Corporate Profile
Seventy-eight years of continuous
growth have made Grace, Kennedy one of the largest and most dynamic
corporate entities in Jamaica and the Caribbean. The company which began
its life as a small trading establishment and Wharf founders, on February
14, 1922, has expanded and diversified over the years. Today it comprises
a formidable network of some 62 subsidiaries
and associated companies, employing over 2000 staff members and operating
in the areas of maritime, distribution, finance, information technology
and food manufacturing.
The leading food distributor in Jamaica, the Company's activities extend
into overseas markets including the Caribbean, North America and Europe.
Its range of exports include a number of items under the Grace label as
well as other Grace owned brands. Products include jams, jellies, sauces,
condiments, juices, nectars, meats, powdered chocolate drinks and drink
mixes as well as a variety of fresh produce. Overseas marketing is driven
by several Grace, Kennedy companies located in Canada and Belize.
The Company is also a market leader in a number of areas in which it
operates including the hardware trade, insurance, money transfer
operations, merchant banking, the maritime industry and the leisure
industry.
As it gears itself to meet the challenges of the future, Grace Kennedy
has set developed a strategic plan which it has called "2020
Vision". This sets out the path which the company will follow to
increase training of its staff and to employ state-of-the-art technology
as tools to achieve increased productivity and maintain the high quality
of its goods and services.
Already the new policies and programmes are beginning to prove their
effectiveness as the Company ended its financial year in 1999 showing
improvements in productivity and profitability.
Vision
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As
Grace, Kennedy & Co. Ltd. gears itself to
meet the challenges of the future, the Company has set out its
policy prescriptions in a programme which it has called "2020
Vision". The vision was developed in 1995. Our vision is to
be:
- A dynamic group
comprising strong, viable business units.
- A group of
business units that gives value to our customers, not added
cost.
- A Company whose
consumers demand our products, our services and our brands.
- Continuously
increasing productivity to raise the standard of living of our
staff.
- A high stock
market value for our Company to benefit our shareholders, and
to lower the cost of capital.
- Ethical in our
conduct of doing business.
- Responsible
members of our community – "Grace – We Care"
- Truly
international by acting on appropriate opportunities wherever
they may arise in the world.
2020 Vision to Date
(13
December, 1999)
- A critical
component of our 2020 Vision is to earn at least 50% of our
profits outside of Jamaica by the year 2020.
- In 1995, the base
year of the 2020 Vision, our earnings outside of Jamaica were
approximately 10% of the total. Today, that percentage is
essentially the same. Even though we have grown both in
Jamaica and internationally, the earnings ratio has remained
the same over the last three years. The ratio should now be in
the region of 15% and increasing.
- This means that we
need to continue our concerted drive to dramatically increase
international earnings as of 2000. International earnings will
need to grow at approximately 30% per annum to meet our 2020
Vision goal.
- The need for this
is even greater since increasing our earnings in Jamaica, in
light of the continuing economic decline, becomes more
difficult each year.
Source.
GraceKennedy.com
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