JPS profits increase

The Jamaica Public Service Company (JPS) is reporting a US$6.3 million or more than J$500 million increase in profit for the first half of its financial year.

Net profit totaled US$21.4 million up from US$15.1 million during the corresponding period last year.

JPS also saw a significant increase in earnings during the six months.

Operating revenue totaled US$568 million up from US$459 million last year.

The power company managed to record improved results despite its fuel bill increasing by US$78 million to US$367 million.