THE nation’s electricity provider, Jamaica Public Service Company (JPS), earned US$9.4 million ($841 million) net profit after-tax due to a 40 per cent jump in revenues with core expenses remaining flat for the quarter ending March 2010, which reversed the US$1.6 million ($143 million) loss it made in the similar quarter in 2009.
The company’s profit performance resulted from a US$64.8 million jump in revenue over the corresponding quarter in 2009 to US$223.1 million, and only a 4.4 per cent increase in operating expenses to US$32.9 million from US$31.5 million comparatively, according to just-released financials to the Jamaica Stock Exchange.
JPS