Durrant Pate/Contributor

Creative and investment company Kintyre Holdings (formerly iCreate Limited) has come out of the red and is on a path of steady growth and development.

With the creation of a new business unit, Parallel Renovations, Kintyre Holdings is currently on a growth path to restored profitability. In the first quarter ended March 31, 2025, Kintyre Holdings recorded a modest net profit of J$8.4 million, reversing the prior year’s loss of J$2.2 million. 

This demonstrates a turnaround in bottom-line performance, driven by effective financial discipline and the successful diversification of the Group’s business model. During the quarter, Kintyre Holdings continued to focus on revenue growth through both organic performance and strategic expansion. 

The newest business unit, Parallel Renovations, executed its first project during the quarter as a pilot initiative. The board and management reports, “This successful engagement served as a foundation to validate our operational model, and based on its performance, the company is now accelerating rollout plans for the remainder of the year.”

This business segment is expected to deliver strong growth for us in 2025 and beyond. In addition to new business growth, Visual Vibe, Kintyre Holdings’ digital out-of-home media subsidiary, remained a core revenue contributor through its long-term client contracts, providing steady and recurring income to the group. 

Funding for expansion

In the meantime, Kintyre Holdings is actively pursuing funding to support the expansion of Visual Vibe and its broader portfolio of subsidiaries. To achieve this, the Tyrone Wilson-led company is implementing a three-pronged financing strategy:

1. Raising suitable debt financing to support operational scaling and strategic initiatives. 

2. Unlocking value in existing assets, particularly through real estate holdings. 

3. Executing a pending rights issue, which will provide equity-based capital to fuel growth.

Kintyre Holdings’ revenue for the first quarter of J$34.1 million, up from J$32.9 million in Q1 2024, representing a 3.6 per cent increase. While revenue growth was modest, the management says, “it reflects positive early traction from Parallel Renovations alongside consistent performance from Visual Vibe.”

Financial returns

Gross profit for the period totalled J$18.8 million, compared to J$26.1 million in the prior year. The reduction reflects initial ramp-up costs and resource investments associated with onboarding and delivering the pilot renovation project. 

These costs are expected to normalise and improve as volumes scale and operational efficiencies are realised. Kintyre Holdings achieved a significant improvement in profit before tax (PBT), rising to J$11.3 million from J$0.3 million in Q1 2024, a 33.1 per cent positive margin. This is up from the 0.8 per cent recorded in the prior period. This increase is attributed to disciplined cost management, efficient integration of operations, and improved margin conversion despite temporary gross margin pressures. 

With a renewed focus on capital efficiency, brand development, and scalable growth platforms, Kintyre Holdings remains committed to delivering long-term value for its shareholders and positioning itself as a diversified, forward-thinking investment holding company.