Wed Sep 18 05:07:00 UTC 2024: ## Knutsford Express Expands Operations with New Vehicles and Real Estate Ventures
**Kingston, Jamaica** – Knutsford Express Services Limited (KEX) is continuing its growth trajectory with plans to expand its transportation, real estate, and courier businesses. The company, which operates a fleet of passenger and cargo vehicles across Jamaica, has invested heavily in its operations, spending $266.69 million in capital expenditure during the 2024 financial year ending May 31.
The majority of this investment was dedicated to acquiring new vehicles, including three double-decker coaches, to bolster its capacity and meet the growing demand for its services.
Knutsford Express has also made significant strides in its real estate portfolio, acquiring land in Mandeville during 2022 and further developing the property over the past two years. The site will eventually house a transportation hub and provide rental opportunities for other businesses.
The company’s real estate segment, which already includes its Drax Hall, St Ann investment property, generated $63.34 million in income for 2024, demonstrating the success of this diversification strategy.
Despite recent challenges in the tourism sector due to the US travel advisory, Knutsford Express has achieved record revenue of $1.96 billion in FY 2024, a 19% increase from the previous year. This strong performance can be attributed to increased passenger and courier business, with the latter segment experiencing particularly rapid growth.
Knutsford Express has expanded its courier network with multiple depots across the island, offering businesses a convenient and reliable way to deliver goods nationwide.
The company has also invested in its staff, adding 35 new employees to its roster, bringing the total workforce to 330. This expansion is crucial to meet the growing demands of the business and enhance safety standards.
Although the US travel advisory has had an impact on the tourism industry, Knutsford Express has weathered the storm, with its core customer base remaining largely unaffected. The company remains focused on improving its services and customer satisfaction, while continuing to explore strategic opportunities for future growth.
Knutsford Express is also committed to rewarding its shareholders, having resumed dividend payments in September 2023 after a four-year hiatus. The company’s board of directors will be considering a dividend at their meeting on October 7.
**In summary, Knutsford Express is expanding its operations across various sectors, investing in new vehicles, real estate, and staff to capitalize on growing demand and maintain its position as a leading transportation and logistics provider in Jamaica.**
First Piper 