Honey Bun passes $1b sales; thanks Jamaica for decades of support
KINGSTON, Jamaica — Pastry manufacturer’s Honey Bun thanked Jamaicans for over three decades of support, as it presented record sales of $1.2billion with a 114 per cent 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, a release from the company disclosed.
It said 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 five out of six 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 32nd 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 programme, 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.