Durrant Pate/Contributor

A rise in service demands has buoyed Knutsford Express, particularly over the Christmas holidays, reinforcing the niche the transportation and courier services provider occupies for habitual customers and visitors to the island.

During the quarter ended on February 29, 2024, Knutsford Express, which has three wholly-owned subsidiaries, experienced strong demand for transportation to and from all of our gateways. 

According to the company, “This endorsement of our services drives us to continue to invest in our people, facilities and coaches. In addition, strong and steady demand for our courier services complemented our passenger services have combined in delivering year-to-date profit of J$268 million, up 27.1 per cent from J$211 million at the end of February 2023.”

Knutsford Express recorded a 20.9 per cent growth in total revenue during the quarter under review moving to J$565 million, up from J$468 million in the comparative period in 2023. For the nine-month year-to date revenue increased by 19.5 per cent from J$1.28 billion in 2023 to J$1.53 billion in 2024. 

Containment strategies working

The management is reporting that its cost containment strategies are making a positive impact with expenses increasing by 14.9 per cent in the quarter, contributing to a third-quarter improvement in net profit by 62.3 per cent to J$111 million from J$68 million in the corresponding period of 2023. 

Earnings per share in the quarter have grown to J$0.22 from J$0.13 over the corresponding period. Total assets have grown by 18 per cent from J$1.63 billion to J$1,92 billion (just shy of J$2 billion) encapsulating a robust quarter with the contributions of its investment in the Drax Hall Business Centre and an expanded fleet of coaches.