Durrant Pate/Contributor

Junior market company, Kintyre Holdings (JA), has completed a $500 million transaction securing a 170-acre property in Clarendon, earmarked for quarry development and wider asset-backed projects. 

The site carries limestone, aggregate material and river shingles, and also shows potential gold-bearing geology, which Kintyre plans to evaluate through structured technical work. Company Chairman, President & CEO, Tyrone Wilson describes the deal as “a major step in our asset-building strategy that adds a new category of long-term value to the portfolio”. 

Pointing to the growth in Kintyre’s balance sheet, which stood at $228.96 million last year but to date has grown to $1.72 billion (US$10.4 million), an increase of 651%. Wilson cites this as clear evidence that the company’s strategy is translating into real balance sheet strength.

Looks to graduate from junior market

With Kintrye crossing the US$10 million threshold in assets, the company advises the Jamaica Stock Exchange that it is evaluating its path to graduate to its main market, reflecting its growing scale and asset profile. In addition to the growth in assets, the company is also reporting an improvement in revenue and profitability.

For the year ended December 31, 2025, Kintrye generated revenue of $271.1 million (2024: $216.8 million), an increase of 25.0%, and net profit of $157.5 million (2024: $72.0 million), a 118.8% hike. Operating profit jumped 65.1% to $156.6 million, up from $94.7 million in 2024, reflecting improved profitability across the portfolio. 

Profit attributable to shareholders of the parent was $148.8 million (2024: $54.5 million), an increase of 173.2%, and earnings per share remained flat at $0.08 (2024: $0.08).

Looking for overseas partners to run the quarry

Kintyre has already indicated that it is not planning to run the quarry itself but is now in discussions with overseas players who have deep quarry development and operating experience. According to Wilson, “our objective is not to become a quarry operator, but a strategic asset owner”. 

The intention is for an overseas partner to take operational control, while Kintyre earns from the asset through a royalty-based and structured commercial framework, whilst retaining governance oversight and long-term asset strategy. 

The Clarendon property, along with any complementary land use such as housing or tourism concepts, will be led through Kintyre’s real estate subsidiary, Parallel Real Estate Ventures, which has been a key driver of Kintyre’s asset growth in recent years through real estate development and value uplift.