Chairman of Kingston Wharves, Jeffrey Hall is reporting revenues of more than $7 billion as at December 31, 2018.
This represents an increase of $884 million over 2017.
Mr. Hall says 2018 was a year in which they met growth and pro?tability targets and strengthened their position as the premier regional multi-purpose, multi-user terminal and as a market leader in logistics services.
He says KWL’s terminal division operating revenue was more than $5 billion.
Divisional operating profits increased by 20% over the prior year to over $1.8 billion.
Streamlined activities at the KWL Total Logistics Facility and the KWL Global Auto Logistics Centre resulted in the company realizing revenue growth in the Logistics segment by $460 million or 31 %.
The company continued to broaden the range of logistics services offered to local and international customers in-keeping with the national growth plan for the development of Kingston as a logistics centre for the region.
This resulted in operating profits of $561 million, a 25% increase over 2017.