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Bermuda Aims To Modernise Public Transportation Through The Implementation Of A Digital Fare Media.

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Good Morning.

The mission of the Ministry of Transport is to transport people and goods efficiently and safely. One of our main priorities is;

To transform the transport fare media so that it is frictionless and cashless.
It is with this context that we aim to Modernise Public Transportation through the implementation of a Digital Fare Media.

A Digital Fare Media will provide the option for both residents and visitors alike to use their:

*Phone
*Credit or Debit Card
To pay for rides and track the location of their bus and/or ferry through an app.

Another advantage to the implementation of a digital fare media is that it will provide the Government with the ability to collect real time ridership data, which will allow us the ability to make necessary adjustments to the Public Transportation Schedule.

While we look to transition the bus and ferry service over to a Digital Fare Media, the majority of the Taxi industry has been using similar electronic platforms for years. However, the Ministry is aware that a Harmonisation of sorts is needed amongst Public Service Vehicles. In this Session of the House of Assembly, the Legislature will take under consideration a Bill to harmonise the licence fees for public service vehicles, with the aim to provide consistency within that industry.

The Ministry also believes the Motor Car Act 1951 is too restrictive in an area where growth and change are necessary to keep up with new technology. Therefore, necessary changes will be made to modernise various aspects of the Act.

For example, with an aging population, it is necessary to re-evaluate policies regarding vehicle licencing for seniors. Ensuring that our seniors are able to more easily access the services they require, while making sure all road users are appropriately assessed prior to being granted a vehicle licence, regardless of age.

The Ministry is mindful of the increasing number of vehicles on our roads, and believes that the promotion of a second-hand vehicle market will allow residents an affordable alternative to purchasing a new vehicle. Necessary regulations will be put in place to safeguard the second-hand vehicle marketplace.

Public Garages have become a steadily increasing source of complaints amongst various neighbourhood residents. It has been realized that amendments to the current regulations are needed, that allow the Government to better mitigate and mediate observed and/or consistent breaches, giving the Minister of Transport the authority to suspend and revoke licences.

Last but certainly not least, as the Minister of Transport, I want to re-emphasize the importance of responsible vehicle operation – both on our roads and waters. Going forward, the Bermuda Road Safety Council and the Bermuda Water Safety Council will be utilised to a greater extent to ensure that transportation safety is kept on the forefront in this vital public messaging.

Former Bermuda Minister of Transport Lawrence Scott

https://www.gov.bm/articles/minister-transport-lawrence-scott-throne-speech-initiatives-remarks 16th November 2020

See Also No increase to Bermuda taxi operators in almost 9 years

Businessuite Markets

Future Energy Source Reporting Best Quarter To Date On Both Topline And Bottom Line Financials

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Jeremy Barnes Chief Executive Officer of Future Energy Source Company Limited (“FESCO” or the “Company”) has released the Company’s unaudited first (1st) quarter financial statements as at June 30, 2024 for the financial year April 1, 2024 to March 31, 2025.

Executive Summary

We are pleased to report that the Company has achieved its best quarter to date as it relates to gross profit (J$412.3 million, up 38.71% or J$115.1 million), operating profit (EBIT) (J$185.8 million, up 16.28 % from J$159.8 million), and earnings before interest, taxes, depreciation and amortization (EBITDA) (J$250.2 million up 26.56% or J$52.5 million). Net profit for the quarter was also strong totalling $148.4 million up 28.19% or J$32.6 million.

For the quarter, the Company was able to achieve its main targets which were to:
1. Increase brand awareness for FESGAS™ as well as maintain and enhance its market share (measured in litres of LPG) for both domestic and commercial usage;
2. Increase its company-operated service station footprint (FESCO Hayes) and increase overall fuel sales measured in litres;
3. Increase profitability, specifically as it relates to operating profit (EBIT), operating cash flow (EBITDA) and net profit;
4. Acquire additional service station and LPG assets to enhance its retail and commercial distribution going forward; and
5. Establish additional filling plants to further enhance its LPG distribution.

The Company’s quarterly performance reflects an increase in fuel sales in litres. The network of FESCO branded service stations remains twenty-one (21) island-wide; an addition of a DOCO service station, FESCO Hayes, and a separation from the network of a DODO service station in Whithorn, Westmoreland.

Financial Highlights:

For the quarter ended June 30, 2024, FESCO recorded Turnover/Revenues of J$7,780.0 million which reflects an 18.56% or J$1,217.8 million year over year increase. Several factors affect revenue/turnover with the supply price of fuel being a major component.

For the quarter, fuel prices increased slightly for gasoline (87 Octane: J$6.08 and 90 Octane J$9.12)1 and remained relatively flat for both ADO and ULSD (ADO +J$1.06 and USLD -J$0.91). FESCO has no control over the supply price of fuel and, instead, focuses more on quantity of fuel sold and gross profit.

Accordingly, FESCO’s year over year growth in Turnover reflects significant increase in litres of fuel sold (all fuels including LPG).

Operating Expenses of J$226.5 million, for the quarter, is up J$89.9 million versus last year or 65.83%.
This expansion of expenses directly reflects the expanded:

1. Operating locations including the additions of: FESCO Kitson Town, FESCO Hayes, FESGAS Bernard Lodge and FESGAS Naggo Head;
2. Asset base which includes increased operating LPG and service station assets;
3. Operational scope (which now includes increased retailing and manufacturing);
4. Early stage new business costs including but not limited to:
a. business acquisition;
b. property acquisition and development costs; and
c. business integration costs.

For the quarter, staff costs of J$75.0 million, up J$25.7 million from J$49.3 million last year, reflects the expansion of our staff complement and is consistent and reflective of our expanded operations (company operated locations and range of operations).

These costs are relatively efficient as they are only 33.1% of overall expenditure (2024: 33.1% vs 2023: 36.1%) and only 18.2% of gross profit (2024: 18.2% vs 2023: 16.6%).

Security expense totalling J$10.3 million versus $6.6 million last year reflects additional operating locations and increased security rates. Motor vehicle expenses of J$11.1 million versus J$1.5 million last year reflects a fleet size growth to facilitate, in the main, haulage and distribution of LPG.

Depreciation expense of J$56.8 million reflects Plant Property and Equipment (PPE) expansion of both LPG and service station assets. The Company’s LPG operation is capital intensive as it relates to its fixed asset requirements to establish and fulfil the business’ services and operation. Accordingly, depreciation and interest expense will in the forming period outweigh its medium and long term “weight” relative to gross profit exemplified by depreciation for the quarter totalling J$56.8 million versus J$37.0 million last year.

It is important to note that operating expenses relative to gross profit is trending downwards. For the quarter, operating expenses were 54.9% of gross profits compared to 57.0% of the entire Audited financial year ended March 2024, and Operating expenses excluding depreciation was 41.2% of gross profits compared to 44.5% for the entire Audited year ended March 2024.

In summary, staff costs, bank charges, advertising, and asset-based expenses including but not limited to depreciation, insurance, and security continue to be FESCO’s main expense items. FESCO’s operations continue to be efficient, represented by our total operating expenses being approximately 54.9% of gross profit. Notably, for this stage of LPG business development, the Company’s total operating expenses excluding depreciation is just 41.2% of gross profits. The Company’s expense profile is changing and will reflect its expanded and evolving range of operations. The Company’s expenditure and revenue targets are in line with its internal forecast and mix of established and early stage business expenses.

A look ahead

FESCO continues to monitor economic factors such as moderating inflationary forces, indicative expectations that interest rates will reduce in the short to medium term, and the near full employment in many sectors of the economy.

The Company is also watchful of hurricane Beryl recovery efforts in southern and western parishes and the resilient and expanding tourism sector, among other factors affecting consumer spending.

The Company is navigating industry-related margin contractionary forces and consolidation within the industry.

The Company is selective in its allocation of investment capital but remains mindful of opportunities for growth and further investment. Internal or self-funding via profit generation, profit retention, at this time, has proven to be the most efficient and cost-effective source of capital to fund growth.

The Company has commenced construction of its service station on Spanish Town Road, FESCO Oval. FESCO Oval will be a company-owned company-operated service station (COCO) for increase retail presence within the Kingston and St Andrew (KSA) region. Completion will take approximately fifteen (15) months and
we anticipate opening in the month of September 2025.

The development will represent the Company’s commitment to community and showcase the creativity and mindfulness of the Company’s Jamaican project team, which we believe, generally, exemplifies our tagline and motto, “Proudly Jamaican”.

Finally, the Company will continue to make investments in real assets and equipment to support expanding its service station businesses and network, its industrial client base, and LPG business.

For More Information CLICK HERE

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Experience Premium Travel with JUTA Express Powered by InterMetroOne – Corporate Feature

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Traveling across Jamaica has just been elevated to a new level of comfort, convenience, and safety with the introduction of JUTA Express powered by InterMetroOne. This premium bus and coach service, available through the InterMetroOne app, is set to revolutionize travel for both visitors to the island and locals alike, offering a seamless and luxurious way to navigate Jamaica’s main towns.

A Legacy of Excellence

The Jamaica Union of Travellers Association (J.U.T.A.) has been a cornerstone of Jamaican transportation since its inception in 1974. With chapters in major locations such as Mandeville, Portland, Montego Bay, Ocho Rios, Falmouth, Negril, and Lucea, J.U.T.A. boasts a fleet of over 6,500 vehicles, making it the largest transportation company in the Caribbean. Known for its superior customer service, safe and courteous operators, and exceptional staff, J.U.T.A. has set the standard in public transportation. Their commitment to excellence has earned them numerous awards and a sterling reputation among tourists, locals, and corporate clients alike.

Unmatched Comfort and Safety

At JUTA Express, powered by InterMetroOne, your safety and satisfaction are our top priorities. By partnering with J.U.T.A. we ensure that every journey is handled by professional and dedicated operators who are committed to your well-being. From the moment you board until you reach your destination, you can rest assured that we have your comfort and security covered.

Comprehensive Services

JUTA Express offers a broad range of services designed to meet the diverse needs of travelers. Whether you are commuting for work, heading to school, or embarking on a group tour, we have the perfect transportation solution for you. Our services include:

  • Ground Transportation: Reliable and efficient travel across Jamaica’s main towns.
  • Tourism Transportation: Seamless connections to and from major tourist destinations.
  • Staff and Student Contracts: Dependable transport solutions for educational institutions and businesses.
  • Group Tours and Fun Days: Enjoy organized and hassle-free excursions.
  • Airport Transfers: Stress-free transport to and from Jamaica’s national airports.
  • Conventions and Meetings: Coordinated travel for corporate events and large gatherings.
  • Luxury Coach Buses: Accommodations for delayed flights and special occasions.

Book with Ease Using InterMetroOne

The InterMetroOne app makes booking your travel with JUTA Express simple and convenient. Available on both Google Play and the App Store, the app provides a user-friendly interface where you can plan and manage your trips with ease. With just a few taps, you can schedule rides, track your journey in real-time, and enjoy exclusive perks and rewards.

Why Choose JUTA Express Powered by InterMetroOne?

  1. Professional Service: Experience the best in Jamaican transportation with J.U.T.A.’s highly trained and courteous operators.
  2. Safety and Security: Travel with peace of mind, knowing that your well-being is our top priority.
  3. Comfort and Convenience: Enjoy spacious, air-conditioned buses with complimentary snacks and drinks.
  4. Seamless Integration: Book, track, and manage your trips effortlessly with the InterMetroOne app.
  5. Trusted Legacy: Benefit from J.U.T.A.’s decades of experience and award-winning service.

Join Us on a Journey of Excellence

Whether you are a visitor exploring the vibrant culture of Jamaica or a local navigating your daily commute, JUTA Express powered by InterMetroOne is your ideal travel companion. Download the InterMetroOne app today and discover a new standard of transportation that combines the reliability of J.U.T.A. with the innovative technology of InterMetroOne.

Experience the Difference. Travel with JUTA Express Powered by InterMetroOne.   

 

JUTA’s transportation solution

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Postal Corporation of Jamaica Continuing Work To Further Service Delivery

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The Postal Corporation of Jamaica (PCOJ/PostCorp) is, this year, looking to continue work to further modernise and build out client service delivery.

The targeted engagements include expanding facilities from which Klick ‘n’ Ship, Zip Mail and FastTrack international courier services can be accessed.

Details of this and other programmed engagements are outlined in the Jamaica Public Bodies Estimates of Revenue and Expenditure for the Year ending March 2025.

Klick ‘n’ Ship, which is currently being accessed at 81 locations, will be deployed to another 12.

FastTrack International’s service, which is currently offered from 65 locations, is being targeted for expansion to an additional 12.

Zip Mail, which provides next-day courier service in 115 locations islandwide, will see reduced processing times with planned increase in the use of technology.

PostCorp is also looking to commence bill payment services at selected locations, and provide reliable internet service to 30 additional post offices islandwide.

Internet service is currently available at more than 115 of the 237 post offices islandwide.

PostCorp continues to maintain a strong relationship with the

Universal Service Fund (USF), which ensures that major locations have network redundancy.

Meanwhile, PCOJ is in the process of reviewing proposals for the Counter Automated Software Project’s implementation, which commenced in 2016 and remains a priority for the entity.

Its implementation will bolster the introduction of modern technology, which is anticipated to replace inefficient and manual processes throughout the postal network.

The Corporation anticipates that a submission will be made to Cabinet for approval of the preferred bidder during fiscal year 2024/25.

The Postal Corporation of Jamaica was incorporated in 1995 to effect the postal system’s reform and modernisation. PostCorp commenced operations in 2000.

By: Britney Stevens, JIS

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Business Insights

RedPlate Group Limited: Corporate Profile

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About RedPlate Group

RedPlate Group Limited is a distinguished Caribbean-based investment holding company, specializing in equity investments across various sectors. Our diversified portfolio includes stakes in both established businesses and promising start-ups, with a focus on:

  • Business-to-Business (B2B)
  • Technology
  • Data-Driven Solutions
  • Integrated Fulfillment Logistics
  • Transportation Solutions
  • E-commerce
  • Mobile Payments

Our Companies

RedPlate Group encompasses a range of dynamic companies, each contributing to our overarching mission:

  • InterMetro Transit Jamaica
  • RedPlate Logistics and Fulfilment Group
  • RedPlate MarketPlace
  • RedPlate Technologies Jamaica Limited
  • RedPlate Financial Group

Innovative Business Model

RedPlate Group’s pioneering business model is poised to revolutionize the transportation and logistics sectors in Jamaica and the broader Caribbean. By leveraging cutting-edge technology, we address current inefficiencies, enhancing productivity and profitability across the value chain. Our holistic, horizontal integration of business units fosters seamless collaboration, creating a robust, technology-driven ecosystem.

Market Opportunity

Jamaica’s transportation and logistics landscape is currently fragmented and inefficient, posing significant challenges for businesses and commuters alike. RedPlate Group aims to resolve these issues by developing a cohesive and interconnected platform. This platform optimizes operations, maximizes resource utilization, and delivers an unparalleled experience for both corporate clients and end consumers.

Strategic Vision

RedPlate Group’s strategic vision is centered around building synergistic relationships and fostering a collaborative environment. Our approach not only fortifies the value chain but also enhances productivity and increases income for all stakeholders. By addressing the fundamental challenges within Jamaica’s transportation and logistics sector, we are paving the way for a more efficient and profitable future.

Conclusion

RedPlate Group Limited invites high net worth investors to join us in transforming the Caribbean’s transportation and logistics industry. Our innovative, technology-driven approach and commitment to excellence position us as a leader in the sector, offering substantial growth and investment opportunities. Together, we can achieve remarkable advancements and drive significant value for our stakeholders.

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Artificial Intelligence

InterMetroONE Superapp – Revolutionizing Jamaica’s Transportation Landscape

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InterMetro Transit Jamaica, a distinguished member of the RedPlate Group, is proud to announce the upcoming launch of the InterMetroONE SuperApp—a ground breaking initiative set to redefine the transportation and service delivery experience in Jamaica.

At the core of our mission is a steadfast commitment to providing every Jamaican with access to a modern, tech-driven public transportation service that is safe, comfortable, cost-effective, efficient, and reliable. The InterMetro SuperApp embodies this commitment by bringing together all our current apps and features into one comprehensive gateway—InterMetro.

 

Unveiling the InterMetro SuperApp: A Gateway to Convenience

The InterMetro SuperApp serves as a one-stop destination for a myriad of transportation and service-related needs, consolidating various offerings under a single platform. From InterMetro Bus Services to RedPlate Taxi rides, airport transfers, and non food and grocery business and personal courier services—the SuperApp seamlessly integrates these services for enhanced accessibility and convenience.

Moreover, InterMetro SuperApp introduces RedPlate +, an exclusive membership program offering members the privileged InterMetro and RedPlate experience across all our rides and delivery services. Members can enjoy a host of benefits, including exclusive offers, discounts, and personalized service enhancements.

Expanding Horizons: Future Enhancements

As we continue to evolve, the InterMetro SuperApp will expand its offerings to encompass a broader spectrum of services aimed at further enriching the lives of Jamaicans. Future additions to the SuperApp will include bill payments, remittances, money transfer services, phone credit topping, and same-day loan services—empowering users with unparalleled convenience and accessibility.

Empowering Jamaicans with Technology

The launch of the InterMetro SuperApp underscores our unwavering commitment to leveraging technology to empower Jamaicans and enhance their everyday lives. By consolidating diverse services into a single, user-friendly platform, we aim to revolutionize the transportation and service delivery landscape, making essential services more accessible, efficient, and convenient for all.

Join us as we embark on this transformative journey, driven by our conviction that every Jamaican deserves access to a modern, tech-driven public transportation service that prioritizes safety, comfort, affordability, efficiency, and reliability. With the InterMetro SuperApp, the future of transportation and service delivery in Jamaica is within reach.

www.inter-metro.com

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