Growth in visitor arrivals impacted positively on sales in March quarter

Jamaican attractions company, Dolphin Cove, which took a hammering from the COVID-19 pandemic last year, is beginning to see recovery in its business.

Sales in the March quarter were up, particularly during the second half of March consequent upon the increase in visitor arrivals for the quarter over the previous quarter. However, the numbers were still 50 per cent, or 46,333, below the first quarter of 2020.

In February 2021, the Jamaica Tourist Board reported a similar number of arrivals as in January 2021 but arrivals in March increased by 24 per cent and this impacted positively on sales for the second half of the month.

The directors report that, “the focus of our management has been to set strategies and generate more business but at the same time to ensure that the parks maintain a slim and controlled operation sufficient to provide a high-quality service to our guests and maintaining the well-being of our staff members and the animals under our care”.

Quarterly operating profit achieved

As a result of the measures implemented, the company reached a quarterly operating profit for the second time since we resumed operations. Despite the decline in the working capital, Dolphin Cove has a solid net assets base.

The group has drawn to date nearly US$600,000 from the credit line equivalent to US$2,000,000 from Sagicor Bank. Given the current results and the outlook for the following months, the directors are expecting to improve the attraction company’s cash position.