Durrant Pate/Contributor

Buoyed by the stable demand for its courier services, transportation and courier services provider, Knutsford Express is expanding into convenient courier locations.

The company is currently focused on expanding its courier services with the provision of a number of additional locations, as the service remains a strong contributor to its bottom line, providing dependable package delivery seven days a week. It is also improving service processes to better serve customers.

The demand for this and other services during the quarter ended November 30, 2024, resulted in revenues increasing by 5.7 per cent to J$500 million, compared to J$473 million during the same quarter in 2023. This growth was driven by increased passenger volumes across all routes. 

For the half-year, revenue rose 8.8 per cent to J$1.05 billion, up from J$965 million in the comparative period. Continued investments in the coach fleet have enabled Knutsford Express to meet growing customer demand and position the company for sustained growth. 

Plunge in profitability

In spite of the positive performance in the courier service, Knutsford Express’ net profit for the quarter declined by 26.1 per cent to J$53 million, compared to J$71.7 million in the prior year. This is due to a reduction in tourist passenger ridership and operating expenses associated with the refurbishing of Knutsford Express’ depots, which affected its net earnings for the quarter under review. 

Earnings per share for the six-month period ended November 30, 2024, stood at $0.24. Total assets grew 12.5 per cent to J$2.062 billion as of November 30, 2024, up from J$1.833 billion a year earlier, reflecting ongoing investments in expanding its coach fleet and other operational resources. 

Looking ahead, the management is anticipating a rebound in travel demand, as headwinds from the recent US election cycle and associated travel advisories subside. The management’s strategic investments in capacity expansion, customer convenience, and operational efficiency are expected to drive sustainable growth and enhance customer experience in the second half of the financial year. 

Drax Hall Business Centre profitability down

Despite contributions from rental income at Knutsford’s Drax Hall Business Centre and café operations, has seen its profitability dwindle during the quarter under review.