TransJamaica Highway Reports US $8m Third Quarter Profits

TransJamaican Highway Limited in its unaudited financials for the third quarter of 2024, has earned a net profit of US $8 million.

In a statement on Tuesday, TransJamaican, the developer of Jamaica’s major toll road network, Highway 2000 East-West noted that this highlights both revenue growth and strategic cost-management as key contributors to its sustained success.

For the quarter ended September 30, 2024, TJH generated revenue of US $20.8 million.

This represents a 9 per cent increase over the US $19.2 million recorded in the same quarter of the previous year.

TransJamaican says this growth is reflective of robust traffic levels across its network of toll plazas, coupled with scheduled toll rate adjustments.

For the nine-month period ending September 30, TransJamaican’s revenue totaled just over US $60 million, up from nearly US $55 million in 2023.

The company reported a net profit of 8-million US dollars for Quarter 3 2024, a 24 per cent increase over the same period last year, when net profit was US $6.5 million.

TransJamaican’s nine-month net profit reached 22-million US dollars, marking a 26 per cent gain over the US $17.5 million reported for the corresponding period in 2023.