KW reports 36% increase in nine months net profit
Kingston Wharves Limited (KW) for the nine months ended September 30, 2017 recorded revenue of $4.52 billion, a 17% increase when compared to $3.85 billion for the same period last year, while revenue for the third quarter grew 14% to $1.58 billion (2016: $1.38 billion). This as both the company’s ‘Terminal Operations’ and ‘Logistics & Ancillary Service’ segments reported increases. The ‘Terminal Operations’ which accounted for 78% of total revenues, increased 18% year over year to a total of $3.53 billion relative to $2.99 million last year. According to KW, “We have experienced growth in domestic containerised cargo and domestic
138SL reported a 98% increase in net profit for 2017FY
138 Student Living Jamaica Limited (138SL) For the year September 30, 2017 Income for the year amounted to $573.54 million (2016: $255.1 million) while Other Operating Income increased to $27.85 million (2016: $40.05 million). As a result, Total Revenues increased to $601.39 million (2016: $295.15 million). Total Revenues for the quarter totalled $177.11 million relative to $95.12 million in 2016. Commenting on its results, the Company stated “having completed the re-construction of the iconic Irvine Hall, the Group achieved its major developmental objective for the financial year. Now with bed capacity of 1800 or doubling of rooms, the Group recorded
CHL records an 8% decline in year-end net profit
Cargo Handlers Limited (CHL) for the year ended September 30, 2017 reported revenues of $320.83 million, 4% higher than the $307.77 million booked in 2016. However, revenue for the quarter contracted 11% to $65.39 million relative to $73.40 million documented for the corresponding quarter of 2016. The company noted, “this result was due to a combination of factors, particular decreases this period in container thru-put and exchange gain when compared to the same period in 2016.” Other income fell 76%, moving from $14.31 million in 2016 to $3.42 million. Notably, CHL booked a gain on exchange of $2.36 million compared to nil