6 months ago
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Food service company Express Catering Limited, ECL, posted net profit of US$1.8 million for the third quarter ending February 2025, a two-thirds increase year-on-year, notwithstanding a decline in passenger traffic through the Sangster International Airport.
Express Catering operates various eateries at the airport and is dependent on robust travel flow. Its 31 stores are spread throughout the departure lounge.
During the period, travellers accessing the lounge fell to around 650,000, down from some 705,000 in the same period last year, the company stated.
Despite the drop in foot traffic, Express Catering reported an uptick in revenue for the quarter, US$7.4 million, compared to US$7 million in the February 2024 period. It attributed the growth to a higher spend rate per passenger, which increased to US$11.38 from US$10.05 year-over-year.
“The improvement in spend rate is particularly important, as the increase was significant and is a result of the strategic measures that the company has been implementing over time,” the company reported to shareholders.
Express Catering is run by CEO Ian Dear, who also controls Margaritaville St Lucia, the company that owns two-thirds of the ECL shares.
For the nine months ending February, ECL recorded US$18.9 million in revenue, slightly surpassing the US$18.7 million reported in the same period of 2024, despite serving fewer passengers — 1.8 million, compared to 1.96 million. Net profit also climbed to US$3.2 million from US$2.09 million.
Express Catering remains optimistic about its outlook.
“The winter season is now ending, but the outlook is for an excellent summer season and we are ready to serve our many patrons,” the report stated, while reiterating that its operations are dependent on tourism traffic.
Three-quarters of the tourists visiting Jamaica enter the country via Sangster International, according to the airport operator in its annual report.
“Despite the fairly stable climate, the Caribbean hotel and resort market shows a significant level of seasonality throughout the year,” the food service company said.
Seasonally, occupancies are strong throughout the winter season, between December and May, then dip between June and November, and are lowest between September and October.
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