By Javaughn Keyes
Jamaica Public Service made a US$19.8 million profit in its fourth quarter ended December.
The light & power company's unaudited results, published on the Jamaica Stock Exchange, show a marked profit increase, compared with the $16.3 million earned after tax for the four months to December 2022.
These earnings were linked to higher operating profit and lower net finance costs.
The quarter's performance brought post tax profit for 2023 to US$67 million (J$ or 10 billion).
The utility company's revenues for the quarter were also up, valued at US$285 million, versus $283 million for the corresponding period in 2022.
Income for the financial year was however slightly lower, however, coming in at US$1.07 billion, against $1.16 billion for 2022.
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