Khary Robinson Executive Chairman, Mailpac Group Limited has released the following Unaudited Financial Statements for the First Quarter Ended March 31, 2025

Throughout the quarter, Mailpac focused on improving service delivery, and increasing customer conversions.

Despite an increasingly competitive marketplace and external factors threatening efficiencies, our financial performance reflected the impact of our continued focus on long-term growth and sustainability, delivering superb results for the period.

Financial Performance: The Company delivered a strong performance for the first quarter of the financial year, with total revenues of $716.4 million, representing a 94% increase over the J$368.5 million reported for the corresponding period in 2024. This growth was primarily driven by the integration of My Cart Express in reporting. Gross profit for the quarter amounted to $388.7 million, compared to $197.9 million for the same period last year, reflecting improved margins and operational efficiencies. This improvement is attributed to increased operational efficiencies and negotiated cost reductions achieved through economies of scale. The Company recorded net profit of $69.7 million of Q1 2025, an increase from $50.1 million in Q1 2024, representing a 39% year-over-year increase. Strategic Developments and

Financial Position: During the quarter, Mailpac continued to make significant capital investment in technology infrastructure and logistics to support long-term scalability and development of service offerings, Additionally, we continue to benefit from the tax remission under the Jamaica Stock Exchange Junior Market rules, now at 50%, following the completion of the initial 5-year full remission period in December 2024.

As at March 31, 2025, Mailpac Group Limited reported total assets of $2.3 billion, up from $626.3 million as at March 31, 2024. The increase is largely attributed to the rise in intangible assets following the acquisition and increased right-of-use assets.

Shareholders’ equity grew to $806.2 million, compared to $537.9 million in the prior year. Outlook: The Company remains focused on growth through innovation, strategic partnerships, and enhanced customer experiences. With an increasingly digital consumer landscape and our expanding footprint, we are confident in delivering continued value to shareholders and stakeholders alike. The Board of Directors and management team would like to express our appreciation to our shareholders, customers, employees and partners for their continued support. We remain committed to delivering value for all out stakeholders and thank you for your unwavering trust in Mailpac.

For More Information CLICK HERE

An investment of $420 million is being made by Jamaica’s largest independent power supplier, InterEnergy Group, for the development of the second compressed natural gas (CNG) facility, at the Jamaica Urban Transit Company’s (JUTC’s) Spanish Town depot.

The disclosure was made by Minister of Science, Energy, Telecommunications and Transport (MSETT), Hon. Daryl Vaz, during a press briefing at the Ministry’s offices in Kingston, on Thursday (May 22).

“This facility will be able to fuel 202 CNG buses per day. Added to the [existing facility at the] Spanish Town depot, that is a total of 397 CNG buses per day,” the Minister outlined.

Mr. Vaz pointed out that the JUTC’s CNG fleet currently has 127 buses, while another 100 are set to arrive in the island within weeks.

“When the InterEnergy facility is completed, we will not only have the capacity to fuel the 227 CNG buses in the fleet but we will also have the capacity to fuel 75 per cent above the demand that will exist for the JUTC with the CNG,” the Transport Minister maintained.

He noted that the InterEnergy facility is expected to be completed between August and September of this year.

“The [new CNG] buses will get here by the middle to the end of June. That is down time. School is off, and we will be in a better position to start back-to-school, not only with the buses being fuelled in Portmore but the new facility in Spanish Town,” he outlined.

Meanwhile, the Minister indicated that the Government has received a proposal from Xcelerate Energy, which has indicated that it is prepared to fund and build out Phase 3 of the Portmore CNG fuel plant, taking the facility’s capacity up to 195 buses per day.

The Government’s investment in CNG buses is expected to further improve operational efficiencies at the JUTC, while leading to significant savings.

By: DONIQUE WESTON JIS

Photo: Donique Weston

In a strategic move to enhance affordability and sustainability, Uber has unveiled “Route Share,” its latest shared ride option. Launched during the company’s annual “Go-Get” event in New York, Route Share is currently available on busy weekday routes in cities like New York, San Francisco, and Chicago, with plans to expand to additional markets.

Key Features of Route Share:
Fixed Routes: Route Share operates on specific, high-demand corridors during weekday morning and evening rush hours (6-10 a.m. and 4-8 p.m.).
Scheduled Pickups: Pickups occur every 20 minutes, making it predictable for commuters.
Shared Rides: Riders share a vehicle with up to two other passengers, reducing costs.
Affordable Pricing: Fares are designed to be up to 50% cheaper than UberX.
Convenient Booking: Riders can book a seat up to seven days in advance or as little as 10 minutes before departure.
Initial Availability: Route Share is initially available in several major US cities, including New York City, Chicago, San Francisco, Boston, Los Angeles, and Washington, D.C.

Understanding Route Share
Route Share is designed to provide Uber’s most budget-friendly ride option by allowing passengers traveling in similar directions to share a ride. This service aims to reduce costs for riders while promoting efficient vehicle usage and lowering emissions. Unlike its predecessor, Uber Pool, Route Share focuses on streamlining the shared ride experience by limiting the number of co-riders and optimizing routes to minimize detours.

Rationale Behind the Launch
The introduction of Route Share aligns with Uber’s broader strategy to cater to price-sensitive consumers amid economic uncertainties. By offering more affordable transportation options, Uber aims to maintain and grow its user base. Additionally, Route Share supports Uber’s commitment to sustainability by encouraging shared rides, which can lead to fewer vehicles on the road and reduced carbon emissions.

Initial Market Feedback
Early reactions to Route Share have been mixed. Some passengers appreciate the cost savings and the opportunity to contribute to environmental efforts. However, drivers have expressed concerns about the potential for increased complexity and reduced earnings associated with shared rides. Past experiences with similar services, like Uber Pool, have left some drivers wary of the challenges posed by coordinating multiple pickups and drop-offs.

Comparison with UberX Share and Competitor Services
Route Share is part of Uber’s suite of shared ride options, which includes UberX Share. While both services aim to offer affordable rides through carpooling, Route Share is specifically tailored for high-demand routes during peak weekday hours. In contrast, UberX Share is available more broadly and allows for dynamic matching of riders throughout the day.

Lyft, Uber’s primary competitor, has had a varied approach to shared rides. The company previously offered Lyft Line and later Lyft Shared, but these services have seen fluctuations in availability and popularity. Lyft has faced challenges in maintaining consistent shared ride offerings, partly due to driver dissatisfaction and operational complexities.

Looking Ahead
Uber’s launch of Route Share represents a renewed commitment to shared mobility solutions that balance affordability, efficiency, and sustainability. As the company gathers more data and feedback from both riders and drivers, adjustments to the service are likely to ensure it meets the needs of all stakeholders. The success of Route Share will depend on Uber’s ability to address the logistical challenges of shared rides while delivering a positive experience for users.

For riders seeking cost-effective transportation options and willing to share their journey with others, Route Share offers a promising alternative. As urban areas continue to grapple with traffic congestion and environmental concerns, services like Route Share could play a pivotal role in shaping the future of urban mobility.

Knutsford Express Services Limited (KEX) has released its unaudited financial statements for the third quarter ended February 28, 2025, revealing a nuanced financial landscape. While the company experienced a modest revenue uptick, net profits have seen a significant decline, prompting strategic shifts in operations and investments.​

Financial Performance Overview

For the third quarter, KEX reported revenues of J$593 million, marking a 4.8% increase from J$566 million in the same period last year. Over the nine-month period, revenues rose by 7.3%, reaching J$1.643 billion compared to J$1.531 billion previously.

Despite these gains, net profit for the quarter plummeted by 54.9% to J$49 million, down from J$111 million in 2024. The nine-month net profit also declined by 36.8%, settling at J$170 million from J$269 million in the comparative period.​

The company attributes the profit downturn to lingering effects of subdued passenger arrival numbers in Jamaica. Additionally, increased administrative expenses, particularly in staff costs, have impacted profitability. In the first quarter of 2025, administrative expenses rose to J$520 million, affecting net profits despite a revenue increase to J$592 million.

Strategic Investments and Operational Enhancements

In response to these challenges, KEX is investing heavily in fleet expansion and digital transformation. The company plans to inject J$500 million over the next three years to upgrade its bus fleet and implement advanced digital systems . This includes the introduction of airport-style departure gateways and digital ticket-checking kiosks, aimed at enhancing operational efficiency and customer experience.​

The Drax Hall depot in St. Ann has become a focal point for these innovations, serving as a prototype for the new passenger processing model. CEO Oliver Townsend emphasized the importance of these investments, stating, “We’re redoubling our investments and efforts on the core business and on initiatives that will improve our customer’s satisfaction”

Service Portfolio Adjustments

KEX is also refining its service offerings to align with market demands. The company announced the discontinuation of its international shipping and e-commerce service effective October 7, 2024, due to a 10% decline in revenue from overseas courier services . This strategic move allows KEX to focus on its core transportation and local courier services, which continue to be significant revenue streams.

Outlook

Despite current profitability challenges, KEX maintains a strong asset base, which grew by over 10.7% in the third quarter, reaching J$2.113 billion from J$1.926 billion the previous year. The company’s commitment to enhancing operational efficiency and customer satisfaction positions it for potential recovery and growth as market conditions improve.​

Conclusion

Knutsford Express is navigating a complex financial environment with strategic investments in infrastructure and technology. By focusing on core services and operational excellence, the company aims to bolster its market position and return to robust profitability in the coming periods.

For More Information CLICK HERE

The second quarter reflected stable demand for our core services. Revenue for the period increased by 5.7% to $500 million, compared to $473 million in the corresponding quarter last year. This growth was driven by increased passenger volumes across all routes. For the six-month period, revenue rose 8.8% to $1,050 million, up from $965 million in the comparative period. Continued investments in our coach fleet have enabled us to meet growing customer demand and position the company for sustained growth.

Our courier service remains a strong contributor, providing dependable package delivery seven days a week. We are actively focused on expanding into convenient courier locations and improving service processes to better serve our customers.

Our total assets grew 12.5% to $2,062 million as of November 30, 2024, up from $1,833 million a year earlier, reflecting ongoing investments in expanding our coach fleet and other operational resources.

Looking ahead, we anticipate a rebound in travel demand as headwinds from the recent U.S. election cycle and associated travel advisories subside.

Our strategic investments in capacity expansion, customer convenience, and operational efficiency are expected to drive sustainable growth and enhance customer experience in the second half of the financial year.

Oliver Townsend Chief Executive Officer Knutsford Express Limited