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Knutsford enters car rental market

Published:Thursday | April 14, 2016 | 4:55 PM

Luxury bus company Knutsford Express launched a new business in January, which expands its footprint in the transport sector.

Through its wholly owned subsidiary KE Connect Limited, Knutsford Express has now entered the car rental market.

“KE Connect provides additional transportation options – shuttles and corporate car rentals to those customers … requiring connections to their next destination,” the company said as it released its third quarter financial results for the period ending February 2016. KE Connects' target market includes visitors to Jamaica as well as corporate executives.

In the February quarter, the bus company earned $153 million of revenue and made $27.6 million in profit. The results surpassed 2015 when the quarter delivered $126.5 million of revenue and $19 million of net profit.

For the nine-month period ending February, profits doubled from $48 million to $88 million, coming off a strong spike in revenues from $333 million to $424 million.

business@gleanerjm.com