Kingston Wharves is reporting higher revenues for the first quarter of 2026, despite a decline in net profit linked to foreign exchange losses.
For the three months ending March 31, the company recorded consolidated revenue of $3.3 billion. That represents an 18 per cent increase over the corresponding period last year.
However, net profit attributable to shareholders declined by 22 per cent to $591 million.
Kingston Wharves says the reduction was mainly due to exchange losses caused by the appreciation of the Jamaican dollar against the US currency.
The company noted that when foreign exchange gains and losses are excluded, net profit actually increased by 5 per cent.
The terminal operations division, which accounts from more than 60 per cent of group revenues, generated $2.3 billion in revenue during the quarter.
The increase was driven by higher cargo volumes and stronger operating activity.
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