Oliver Townsend Chief Executive Officer of Knutsford Express Services Limited has released the following unaudited financial statements for the nine months ended February 28, 2026.
As our nation and our business continue to navigate the extended recovery phase following the unprecedented devastation of Hurricane Melissa, we are seeing gradual stabilization. The lingering
economic and operational effects of the storm resulted in an 8.2% decrease in revenue for the third quarter, which stood at $544 million compared to $593 million in the corresponding period last year.
While the post-hurricane environment remains challenging, we are pleased to report a return to profitability this quarter following the losses sustained at the height of the storm’s impact. Net profit for the third quarter was $15.8 million, representing earnings per share (EPS) of $0.03. While this is a 68.4% decline from the $50 million recorded in the same quarter last year, it reflects a steady recovery trajectory and the underlying resilience of our core operations.
Our commitment to long-term expansion remains resolute. Total assets grew by 13.3%, reaching $2,417 million at the close of the quarter, up from $2,133 million in the comparative period last year.
In strict alignment with our strategic initiatives, we successfully integrated new coaches into our fleet during this period. These additions are designed not only to meet anticipated rebounds in demand but also to drive greater operational efficiencies and reduce downtime. Furthermore, we are excited to report that our major infrastructure project in Mandeville is advancing steadily toward completion. As this hub comes online, we are actively evaluating opportunities to unlock similar synergistic benefits at other strategic locations across the island.
We remain firmly on the path to making our travel, transportation, and courier offerings more seamless and enjoyable for our customers. We are particularly encouraged by the accelerated adoption of our digital business channels. A growing number of our passengers are taking advantage of the convenience of booking their trip online, validating our ongoing investments in streamlining and modernizing our digital platforms.
Outlook
As we look toward the final quarter of the financial year, the Board and Management remain focused on operational excellence, cost management, and customer satisfaction. We are confident that our continued investments in our fleet, physical infrastructure, and digital presence position Knutsford Express to fully capitalize on Jamaica’s ongoing economic recovery.
Knutsford Express Services Limited (KEX) Unaudited Financial Statements for the Third Quarter Ended February 28, 2026