Kingston Wharves Reports 15% Increase in Revenues


The Directors of Kingston Wharves are reporting revenues of over $3-billion for the six months ending June 30.

This represents a 15-percent or $450-million increase over the corresponding period in 2017.

The operating revenue of the Terminal Operations Division totaled $2.8-billion, an increase of 21-percent year on year.

Net profits increased by $100-million from $742-million to $842-million during the reporting period.

The company says underpinning this continued growth, is the strategic focus on attracting multiple users to their terminal with a diversity of cargo-types.

Revenues for the Logistics Services Division amounted to $825-million representing a 22-percent increase.

Profits were $197-million representing a 3-percent increase.

Chairman Jeffrey Hall says these results were driven primarily by an expansion of the customer base, particularly in third-party logistics services and continued gains resulting from KWL’s ongoing investment in automotive logistics