Durrant Pate/Contributor

Stationery and Office Supplies (SOS) continues to expand, acquiring new property at 5 West Arcadia Avenue, Kingston 5, for J$100-million.

This ¼ acre investment represents SOS’ third acquisition of warehousing space. This investment will not only fortify SOS’ warehousing capabilities but strategically situates it to optimise supply chain operations, meeting the demand locally and regionally.

Also, it will lead to job creation for skilled professionals such as warehouse supervisors, logistic coordinators and inventory control specialists, along with labourers. The investment comes as SOS heralds the closure of a truly exceptional fiscal year in which the company’s revenues heads towards the J$2-billion milestone.

SOS Managing Director Allan McDaniel is enthusiastic about the sustained demand witnessed over the past three years. “This consistent demand for our products not only signals our individual growth but also mirrors a broader positive trend across Jamaica. Increasing investments in hard infrastructure and ongoing projects reflect a buoyant climate, with rising foreign direct investments into Jamaica providing an encouraging backdrop for our business,” McDaniel said.

Update on additional warehousing space

During the third quarter of 2023 SOS completed the construction of its new warehouse at Beechwood Avenue, which created an additional 5,000 sq. feet of storage space, while its warehouse expansion at its Montego Bay branch is over 90 per cent complete. This will double the company’s warehousing capacity on the western end of the island.

Recent financial disclosures unveil a robust year-on-year growth trajectory for SOS. Revenues in its 2023 third quarter moved from J$473.1 million to J$487.9 million, while pre-tax profits escalated from J$87.2 million to J$107.9 million. Within the realm of high performance, SEEK, a standout division, experienced revenue growth to J$37.5 million, up from J$27 million in the corresponding period last year.

At its nine-month mark, SOS’ revenues grew by 16 per cent, with a 4.0 per cent rise in gross profit. For the period, this has resulted in a 29 per cent increase in pre-tax profit.