Kintyre Q3 profit surges nearly fivefold on Visual Vibe and real estate gains
Jamaica Observer | 2025-12-03 | Original Article
KINTYRE Holdings (JA) Limited (formerly iCreate) reported a near fivefold rise in third-quarter net profit to $103.5 million as revenue jumped 146 per cent to $135.3 million, driven by growth in its Visual Vibe digital out-of-home advertising network and contributions from real estate activities. The Junior Market-listed company said in its unaudited results for the three months ended 30 September 2025 that operating profit rose to $103.5 million from $26.2 million a year earlier, helped by a sharp expansion in its screen network and higher advertiser activity alongside gains from its real estate subsidiary. Revenue for the nine months increased 70 per cent to $208.9 million, while net profit for the period climbed to $129.4 million from $20.4 million a year earlier. Chairman, President and Chief Executive Tyrone Wilson said the performance underlined the group’s ability to combine “operational discipline with strategic investment activity” and described Kintyre as “fastly becoming one of the most profitable companies” on the Jamaica Stock Exchange Junior Market. Visual Vibe, which operates indoor and outdoor digital screens and has added products such as advertising backpacks and screen rentals, remained the main growth driver and is being positioned as Jamaica’s leading digital out-of-home platform, the company said. Kintyre said investment from Portland Holdings and a partnership with Vantage One are supporting further expansion of the Visual Vibe network, with new equipment expected to be installed as early as January 2026 and a potential initial public offering under consideration. Its Parallel Real Estate Ventures arm advanced renovation projects and work on a Stony Hill development, where subdivision is under way for a land-sale offering of two villas and three townhouses, with formal plans scheduled for submission in the first quarter of 2026. Total assets rose to $970.3 million at 30 September from $564.7 million a year earlier, reflecting higher property, plant and equipment, goodwill and investment properties as well as stronger cash and receivables. Total equity increased to $669.2 million from $339.1 million over the same period, while total liabilities stood at $301.1 million, including $80 million in convertible notes, leaving the group with what appears to be a relatively low leverage position. Kintyre said cash and cash equivalents improved to $75.5 million at the end of the period, compared with $1.8 million at the start of the year, after positive operating cash flows were partly offset by investment in assets and changes in subsidiary ownership. The group, which has operations in Jamaica, Dubai and Miami and plans to expand to another Caribbean market, continues to benefit from tax incentives available to Junior Market companies and is pursuing mergers and acquisitions across the region in media, real estate, technology, hospitality and business empowerment sectors.