Sunday, June 24, 2018

Business: Kingston Wharves "Keeps On Winning"

Just over 6 billion in total revenues for 2017, an increase of 18% over the previous year; 1.6 billion in profits, a 25% increase over 2016.

those aren't the only indicators, but port terminal operators Kingston Wharves Limited (KWL) is definitely on a roll, and its most recent AGM, on the 17th floor of the Jamaica Pegasus, reflected that sense of calm elation that the Board and management clearly were feeling in presenting the results.

Chairman Jeffrey Hall noted the 5-year run of appreciation for the stock, and the concomitant improvements in productivity - he paid specific tribute to the staff for their contribution to the luminous performance.

As such, the meeting proceeded pretty much as expected, with lengthy interventions fron now legendary minority shareholder activist Orett Staple, and questions and suggestions coming from a few other shareholders.

The noted Resolutions for consideration were passed with nary a dissenting voice and even the now blowhard Auditor's Report proved quite tolerable.

For the future, the company plans to continue the "streak" by expanding its footprint - including in the forthcoming Special Economic Zone, whilst streamli9ning its operations to wring maximum returns out of its investments.

Q1 2018 results show that more of the same is likely, with revenues topping 1.6 billion, and net profit amounting 368million.

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