Stanley Motta has posted strong growth for its first quarter, powered by higher rental income and improved operational performance. The real estate company reported higher net profit alongside improved profit margins for the period.
Rental income for the three months ended March 31 surged 45% to $237 million compared to the same period last year — an increase the company attributed to higher occupancy levels and increased rental activity across its property portfolio. At the same time, Stanley Motta trimmed administrative expenses by 12%, with costs falling to $49.6 million, reflecting ongoing cost-management measures and operational efficiencies.
The company says the results reflect its continued investment in and construction activity tied to its 10-storey commercial building project, as well as the broader strengthening of its property portfolio.
Read more: Radio Jamaica News Online