Local fuel retailer, Future Energy Source Comapny (FESCO) is reporting a higher profit of $148.37 million for its first quarter ended June 2024.
In the comparative period in 2023, the company says it made $115.74 million in post tax earnings.
FESCO says its performance in the three months was supported by higher revenues of $7.78 billion - an 18.56 per cent increase compared to the $6.56 billion made last year.
This was linked to inflows from strategic investments in the previous quarter and an increase in fuel sales.
FESCO says it has started construction of its service station on Spanish Town Road, dubbed FESCO Oval.
The company says completion is expected in the next 15 months, in order to meet the deadline set for the third quarter in September 2025.
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