Knutsford Express Services Limited will, in the coming year, be increasing its fleet of luxury buses from the current 27, which undertakes 300 trips weekly, chief executive officer and director Oliver Townsend said last week.
“We are continuing investments in our fleet of premium luxury coaches to better address increased customer demand while enhancing operational efficiency and passenger comfort,” he said.
“The strong increase in revenues was as a result of strong growth in both passenger traffic as well as our courier service,” he said of the company which transport packages between its terminals in the island’s two cities and towns across the island, doing delivery every day except Christmas Day.
The company is also expecting a bump in inflows from the addition of the Sangster International Airport depot that opened its door to customers on November 15.
For the first quarter ended August 31, Knutsford Express revenues increased by 37 per cent to $237 million from $172 million during the corresponding period last year.
Net profit grew in the first quarter by 57 per cent from $36 million to $56 million, representing earnings per share of 12 cents, up from seven cents the previous year.
The company is hoping to further add to revenues from traffic improvement. The $51 million spent on fixed assets to date in 2017 contributed towards that goal, Townsend said.
In notes attached to the financials, Townsend said that was due to strong customer demand for passenger travel and the company’s courier service.
The company also credited the favourable results to “improvement in accessibility and throughput times in our call operation centre”.
Published in the Jamaica Gleaner
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