8 months ago
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Increased passenger traffic through the Sangster International Airport in Montego Bay, plus the addition of new eateries, has given Express Catering Limited, ECL, a 17 per cent bump in quarterly sales revenue.
Express Catering is the largest operator in the departure area of Jamaica’s largest airport and primary gateway for tourist visitors. Its services are confined to the airport.
The company generated revenue of US$7.09 million during the quarter ended February, up from US$6 million in the comparative 2023 period.
Express Catering said it was on target for its best year to date for both people traffic as well as top line revenue. Its accounting year terminates annually in May.
Passengers accessing Sangster International’s departure lounge surpassed 705,000, up 12 per cent year-on-year.
Around two-thirds of airport passengers are from the United States, and ECL offers familiar franchises for them to consume.
Two new stores, Bento Sushi and Freshens, are in construction phases, along with a fourth Starbucks. All will be ready before September.
Express Catering has been in expansion mode since the pandemic, guided by CEO Ian Dear. Its restaurants and bars have increased from 24 to about 31, in tandem with the wider expansion of the terminal by airport operator MBJ Airports Limited.
“The food court expansion has had a very positive impact on our revenue, but the overall staffing strategy now needs to be reviewed, so that this cost category is brought in line with the overall business objectives,” said Express Catering in its newly released third-quarter earnings report.
Although sales were up for the company in the third quarter, its earnings fell by about nine per cent to US$1.06 million, due to higher costs related to the expansion programme and wages. However, over nine months, profit eked out a gain of eight per cent, rising from US$1.92 million to US$2.09 million, on the back of a robust rise in sales from US$15.2 million to US$18.7 million.
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