Chairman of 138 Student Living Jamaica, John Lee has described the company’s 2017 performance as below par.
This, although profit before taxation increased to $20-million up from a loss of $24-million for 2017.
In his report to shareholders contained in the company’s recently released 2017 annual report, he indicated that the $20-million achieved for 2017 fell short of the budgeted $75-million. This, he says was due largely to them not achieving the desired occupancy levels during the summer months. Expenses were however on target.
138 Student Living, which is listed on the Junior Market of the Jamaica stock exchange.
It reported that income from short-term accommodation increased from $35-million in 2016 to $77-million as at the end of September 2017.