JPS Records US$19.8M Fourth Quarter Profit

Jamaica Public Service reported a profit of US$19.8 million in its fourth quarter, ending December.

The company’s unaudited results, disclosed on the Jamaica Stock Exchange, indicate a significant increase in profit compared to the $16.3 million earned after tax in the same period of 2022.

This rise in earnings is attributed to higher operating profit and reduced net finance costs.

The fourth-quarter performance contributed to a post-tax profit of US$67 million (J$10 billion) for the entirety of 2023. Revenues for the quarter also saw an uptick, reaching US$285 million compared to $283 million for the same period in 2022.

However, the company’s income for the entire financial year experienced a slight decline, totaling US$1.07 billion compared to $1.16 billion in 2022.

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