Alexander Melville Chief Executive Officer Tropical Battery Company Limited (TROPICAL) has released the following Interim Financial Statements For The Second Quarter Ended March 31, 2025

The second quarter of FY2025 represents a defining chapter in Tropical Battery’s transformation into a multi-market, diversified energy solutions group. With operations spanning Jamaica, the Dominican Republic, and the United States, and products shipping to over 35 countries, we continue to scale a resilient and future-facing platform that aligns with global megatrends in energy storage, electrification, renewable energy, and mobility. We have delivered solid operating results while executing key elements of our long-term strategic plan, against a favourable macroeconomic backdrop, marked by stabilising inflation, a return to growth-oriented monetary policy, and strong investor appetite for energy transition assets.

We continue to benefit from diversified revenue streams and scalable infrastructure. Rose Batteries (USA), Kaya Energy (Dominican Republic and Jamaica), and Tropical Mobility are now fully integrated and operationally aligned. These businesses give us direct exposure to energy storage systems, solar EPC services, and electric vehicle supply chains—markets projected to grow at 20%+ CAGR over the next decade (Straits Research, 2024; IEA, 2024).

Our U.S. operations provide access to the world’s largest energy storage market. At the same time, the Dominican Republic, six times the size of Jamaica by GDP, offers a rapidly expanding base of commercial and industrial customers. These strategic positions allow us to scale quickly while limiting overexposure to any single geography.

The second quarter of FY2025 demonstrated a resilient financial performance across Tropical Battery Group, with key metrics reflecting operational discipline and improved commercial execution. Gross operating revenue totalled J$1.63 billion, representing a 5.1% year-over-year increase compared to the J$1.55 billion posted in Q2 FY2024. On a year-to-date basis, revenue rose 34%, underscoring the strength of our core battery and energy businesses, alongside the contributions from new and recently integrated subsidiaries.

A key highlight for the quarter was the continued improvement in gross profit margins, which rose to 34.8%, up from 30.9% in Q1 FY2025 and 31.5% in Q2 FY2024. This reflects the successful implementation of strategic pricing actions, supplier cost recovery, and process corrections initiated in late Q1. These efforts helped to fully offset the impact of increased input costs and restored margins to target levels. Gross profit for the period stood at J$567 million, a 15.9% improvement over the prior year.

Operating expenses increased to J$428 million, compared to J$305 million in Q2 FY2024, reflecting one-time APO marketing expenses, investments in new talent management to help grow revenue in the United States, the continued expansion of group operations and the complete consolidation of Rose Batteries and Kaya Energy Group. These investments in integration, staffing, and infrastructure are essential for scaling our platforms in the U.S., Dominican Republic, and Jamaica, and are expected to yield further efficiencies in subsequent quarters.

Finance costs rose to J$132 million, a 30% year-over-year increase, driven by the full-quarter impact of the bridge loan facility used to acquire Rose Batteries. This was partially offset by J$26 million in finance income, which brought total net finance costs to J$106 million. As a result, while operating profitability remained substantial, bottom-line profit for the quarter was modest, with net profit of J$2.78 million. Nonetheless, this marks a significant turnaround from the Q1 net loss of J$96.2 million, validating the underlying health of the business and the one-off nature of prior period adjustments.

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Starting a new business is bold. Starting one while managing a full-time 9–5? That’s a different kind of brave.

For many aspiring entrepreneurs, the safety net of a full-time job provides stability while pursuing a passion project or startup dream. But make no mistake — it takes strategy, discipline, and an honest understanding of your limits.

Here’s what I’ve learned (and am still learning) as I straddle both worlds:

1. Time Becomes Your Most Valuable Currency
With only early mornings, lunch breaks, and late nights to spare, you begin to spend time like money. You’ll learn quickly that not every meeting is worth it, not every opportunity is aligned, and not every “yes” deserves your energy.

2. Boundaries Are Everything
Your job deserves your full attention during business hours. Your startup deserves its own sacred space. Without clear boundaries, burnout is inevitable and performance can suffer — in both areas.

3. You Don’t Have to Do It Alone
Whether it’s a co-founder, a freelance designer, or a virtual assistant, small investments in support can pay off big in time and sanity. And yes, your network is a secret weapon.

4. Progress Over Perfection
You won’t launch with the perfect website, the flawless pitch deck, or a viral brand — and that’s okay. The most important step is the next one. Small, consistent progress compounds.

5. Clarity Comes Through Action
You might start your business thinking it will go one way, only to find your true niche or product-market fit halfway down the road. That clarity won’t come from overthinking — it comes from doing.

Starting a business while working a full-time job isn’t about being superhuman — it’s about being deeply committed to a bigger vision while managing your current responsibilities with integrity.

To those in the thick of the hustle — keep going. You’re not alone, and you’re not crazy. You’re building something meaningful.
If you’re in this season too, I’d love to hear your story. What’s your business? What’s working? What’s not?

Let’s connect and support each other.

Rojah Thomas Co-Founder at Kree8 Hive!
Sales & marketing maven, passionate marketer with a love for sales. With over 8 years experience in the field, I offer a refreshing new age approach to marketing with a direct focus on sales and ROI.

India is witnessing a rapid and transformative shift in its retail and logistics sectors through the rise of quick-commerce (q-commerce)—a model that promises to deliver goods within 10 minutes. At the center of this boom are companies like Blinkit (owned by Zomato), Swiggy Instamart, Zepto, and Flipkart Minutes, which are racing to meet the increasing demand for ultra-fast delivery, not just in metropolitan areas but also in tier-2 and tier-3 cities.

The Emergence of the 10-Minute Promise

Initially focused on groceries, q-commerce platforms are expanding into electronics, fashion, household goods, and even pharmaceuticals. This evolution is driven by several converging factors:

• Consumer lifestyle changes, especially post-pandemic, have increased the demand for convenience and instant gratification.

• Smartphone penetration and digital payments have made ordering easier and faster.

• Fierce competition and significant investor backing have accelerated innovation and service expansion.

• Changing consumer behavior, particularly among Gen Z, favors frequent, smaller transactions over traditional bulk shopping.

What started as an experiment in convenience has quickly become a default expectation in many urban centers.

Hyperlocal Warehousing: The Backbone of Q-Commerce

To fulfill the 10-minute delivery promise, companies are building a decentralized web of micro-fulfillment centers, also known as “dark stores.” These small, strategically located warehouses serve a 2–3 km radius and are optimized for speed and efficiency.

• Speed and proximity are the game-changers. By stocking inventory close to consumers, platforms cut delivery times dramatically.

• AI and predictive analytics ensure these hubs are stocked with high-demand items, reducing waste and improving inventory turnover.

• Optimized delivery routes and short travel distances reduce fuel consumption and cut costs.

• Operational flexibility is key—these dark stores, often located in underutilized urban spaces, are agile and scalable.

This model is not just transforming mega-cities. Tier-2 and tier-3 cities like Lucknow, Indore, and Coimbatore are emerging as new logistics hubs, offering lower operational costs, available workforce, and growing consumer bases. The trend is also driving demand for Grade A warehousing infrastructure, with automation and tech-readiness becoming standard.

Economic Opportunity Meets Ethical Dilemmas

While the 10-minute model offers enormous economic potential, it comes with a growing list of concerns:

• Worker welfare is under scrutiny. Riders often face unsafe conditions, intense delivery pressure, and unrealistic performance expectations.

• Profitability remains elusive, especially in non-metro areas where lower order values may not justify the cost of hyperlocal fulfillment.

• Health and consumption patterns may be affected as frequent, impulsive purchases could lead to unhealthy food choices and increased consumerism.

• Urban congestion is escalating, with a surge in delivery vehicles clogging roads and increasing the risk of accidents.

• Regulatory uncertainties, particularly around land use and licensing for dark stores, pose ongoing challenges for expansion.

The Road Ahead: Tech-Driven, Consumer-Focused, and Regulation-Watched

The future of India’s quick-commerce ecosystem will depend on balancing technological advancement, consumer convenience, operational efficiency, and social responsibility. Innovations in last-mile delivery automation, predictive inventory systems, and rider safety tech are being explored as solutions.

Moreover, as the model spreads to smaller cities, the hyperlocal warehousing surge will likely create new job opportunities and stimulate local economies—if managed sustainably.

Conclusion

India’s 10-minute delivery boom is more than just a race to deliver faster—it’s a redefinition of urban retail and logistics. It exemplifies how digital infrastructure, urban planning, and evolving consumer behaviors are reshaping the modern commerce landscape. The path forward must balance speed with sustainability, profit with worker safety, and innovation with inclusivity to ensure long-term growth and societal benefit.

India’s 10-Minute Delivery Boom: A Blueprint for Disruption—and a Wake-Up Call for Caribbean Courier Companies

When companies across Jamaica and the Caribbean discuss digital marketing, the perspective and expertise of Ewort Atkinson is often one they would love to tap into. His work has contributed to campaigns generating more than 300 million impressions, 15,000 leads, and an average 7:1 return on ad spend (ROAS), helping brands across the region drive well over US $300 million in business impact.

Balancing professional responsibilities, he manages agency work and training commitments when time permits, always with a focus on helping businesses grow through digital channels.

From Telecom to Digital Leadership

The better part of a decade spent in telecom laid the foundation for his digital expertise. He served as Group General Manager at Fimi Wireless, overseeing marketing and sales in Haiti, Guyana, Jamaica, and El Salvador. That experience was followed by a move to Digicel Jamaica, first as Digital Manager and later as Head of Digital Media, where he led high-impact online campaigns targeting both B2B and B2C segments across platforms such as social media, Google, and ActiveCampaign.

That body of work, along with time spent as Director of Digital Strategy and New Media at Prism Communications Limited, helped establish his reputation as a digital leader with a strong focus on strategy, advertising, and content creation aimed at lead generation and sales.

Kinson Digital: Helping Caribbean Businesses Grow

In 2018, he founded Kinson Digital, a digital agency with offices in Jamaica and Florida, built on a passion for helping businesses of all sizes grow their digital engagement and revenues. Over time, industries that have benefited from his work include law, hospitality, food and beverage, FMCG, entertainment and education. His expertise has also been utilized by overseas businesses in key industries including construction, janitorial and cleaning, event planning and he has consulted for notable franchises such as Golden Krust.

Above all, his pride remains in supporting local businesses throughout the Caribbean. This sentiment is reflected in a quote shared during his speech at European eCommerce and Digital Marketing Week, “A Caribbean brand shouldn’t have to leave the region to acquire world-class digital talent.”

The Digital Training Hub

Building on that mission, he launched The Digital Training Hub in 2022 as an offshoot of Kinson Digital. The platform provides micro-courses in Google and Meta advertising, practical digital marketing strategies, and useful tools shaped by years of experience. These insights are also captured in his book, The Digital Marketing Blueprint: A Guide For Non-Digital Managers, available on The Digital Training Hub website or on Amazon.

Teaching and Mentoring New Entrepreneurs

Throughout his career, he has also been committed to education and mentorship. While lecturing at the University of Technology, Jamaica, and Northern Caribbean University, he taught and mentored more than 50 students at UTECH, many of whom launched their own digital ventures. Additionally, he has contributed to the development of Jamaica’s national social media and digital marketing competencies through work with HEART NCTVET.

Focused on Results That Matter

Helping clients and students achieve meaningful results remains a central passion. The focus has always been on driving engagement, leads, and sales, while cutting through fluff and vanity metrics to achieve outcomes that genuinely move the needle for businesses.

Selective with Time, Intentional with Impact

With the growing demand for true strategic digital marketing expertise across the Caribbean and in diaspora-rich cities such as Toronto, New York, and Miami, his time remains a valued asset. Given these demands, he is selective about new engagements, choosing to work on projects where he can deliver the greatest impact.

Businessuite’s Take

In a region where digital marketing still has ample room for growth, this focus on building real capabilities and delivering practical results makes Ewort Atkinson one to watch as the space continues to evolve.