Jamaica-based managed IT services provider, tTech Limited faces operational challenges amid mixed results from its first quarter 2024 financial report.

The company earned revenues totalling J$117.9 million, which was a 0.33 per cent reduction compared to the corresponding period in 2023, and a profit of J$5.2 million, which was 14.58 per cent less than the prior year. 

These results, according to tTech’s chief executive Norman Chen, were in line with expectations for the period.

“Our performance in the first quarter while facing certain challenges, was in line with our expectations. We have still maintained steady revenue and profit margins, and our strategic focus on security and innovation continues to position us well for future growth. So, we remain dedicated to enhancing operational efficiency and delivering value to our stakeholders,” he stated.

Chen explained that during Q1, tTech made substantial progress in pursuing its strategic goals, expanding into new markets, broadening its reach and customer base, and amplifying its customer engagement efforts. Its security portfolio experienced notable growth as well, increasing by 149 per cent compared to the previous quarter, reflecting tTech’s strategic focus on transitioning into a security-first organisation.

These achievements, according to Chen, underscore the company’s dedication to prioritizing security and making strategic investments to lay a foundation for sustainable growth and value creation.

Looking ahead, tTech Limited remains cautiously optimistic about its future prospects. The company is committed to honouring the legacy of its founders while charting a course for sustainable growth and prosperity.

To this end, tTech has reiterated its commitment to focusing on enhancing operational efficiency in the following quarters, investing in strategic growth initiatives to drive expansion and innovation, ensuring strong support and engagement for employees, and maintaining financial stability to support its long-term growth objectives.