Kingston Wharves Limited is reporting robust double-digit growth following the release of its unaudited results for the quarter ended March 31, 2016

Before an audience of  Shareholders, Board of  Directors, Group’s Executive Management  numbering approximately one hundred, Mr. Hall revealed that at the end 2015,KWL had assets of over  21 billion dollars, and  shareholders’ equity of 17 and a half billion dollars . At the same time, net profit attributable to shareholders was 48 per cent, or $89 million dollars higher than that of the relative period in 2015, moving from $187 million dollars, to $276 million dollars.

Earnings per stock unit as at March 31, 2016 grew to $0.19 (2015:$0.13). Of note, was that during 2015, the company earned net profit attributable to shareholders of 1.25 billion dollars.

“Put simply your company is financially strong and is profitable”, remarked an upbeat Mr. Hall. According to the KWL Chairman, the company also has a bold vision for itself, and for its place in the Jamaican economy, and in regional and international trade.

Mr. Hall says KWL, is on a path to securing its place as an important multi user gateway container transshipment port, and as the leading multi -purpose port, and the leading logistics service provider in the Caribbean. In this vein, the Company has reorganized its business into two specific points of focus – Port Operations and Logistics & Ancillary services signaling a new era.  

In his address Chief Executive Officer KWL, Grantley Stephenson stated that work is well underway for the completion of the multi-million dollar state-of-the-art Total logistics Facility. Construction is scheduled to be completed in May 2017.

Well known minority shareholder, and a regular voice at Shareholders’ meetings, Orette Staple, played his customary role in the question and answer session. Mr. Staple heaped praises on Mr. Stephenson and his team, for what he described as “the very good results, and dedication to duty, which was greatly appreciated”.

The Board is satisfied that the company’s diverse base of world class expertise at the level of the board and management, which includes leadership of large scale port infrastructure development in Capital projects, port operations, marine services and logistics services, as well as general business leadership in corporate governance both locally and internationally, will serve KWL well in what is an important stage of its programme development.

About KWL

KWL is a publicly listed company on the Jamaica Stock Exchange with Net Assets valuing US$148 million. The Group has experienced steady growth through prudent management and a commitment to continuous improvement that has ensured its competitiveness and strong performance since 1945. In addition to its core businesses of port terminal and logistics operations, the KWL Group operates a wholly owned industrial and port security services company, Security Administrators Limited (SAL) and a Cold Storage Facility, Harbour Cold Stores (HCS) Limited.