Pastry manufacturer’s Honey Bun thanked Jamaicans for over three decades of support, as it presented record sales of JMD 1.2billion with a 114% increase in profits over the prior year to its shareholders. In remarks made at the company’s Annual General Meeting on February 8 at the Knutsford Court Hotel, Executive Chairman and co-founder Herbert Chong reported on the year ending September 2016, and noted that seeing the company’s first billion was a significant milestone. During the financial year Honey Bun also became Jamaica’s first Hazard Analysis Critical Control Point or ‘HACCP’ certified bakery. The certification places Honey Bun’s facilities at international food safety standards.
The bakery’s stellar achievements were acknowledged in December 2016, when it received 5 out of 6 Junior Market Jamaica Stock Exchange awards, bringing home the Governor General Award for Overall Best Junior Market Company. Reflecting on the progress the company, Chong noted that the support of the Jamaican community has played a significant role in Honey Bun’s success. “In 1984 My wife Michelle and I purchased Honey Bun as a small storefront bakery in Spanish Court ; now the Spanish Court Hotel. Twenty-seven years later in 2011, we became publicly traded. Now in our 35th year, we remain honoured to have reached that milestone as a Jamaican business, because Jamaica has supported us and we are passionate about supporting Jamaica in return.”
The Chairman noted 2017 plans for Honey Bun will include a strong focus on our Corporate Social Responsibility. “You will see developments in our community program, because we believe in Jamaica, and Brand Jamaica has much more to accomplish globally” said Chong who also noted that the recent introduction of solar power to the company’s operations showed a commitment to protecting the environment.
Regarding competition Mr.Chong noted “While we are aware of current market space, we choose to remain focused on our best product: our company. We consider that competition is good for any market. We have the ability to convert our challenges to opportunities.” He went on to say that company remains committed to continuous improvements through maintaining international standards, following best practice, and a strong focus on talent, to meet the needs of the growing company.