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JPS MADE 2.9 BILLION IN PROFITS @one876 @bounce876 Featured

Archive Written by  AKA Saturday, 07 February 2015 11:17 font size decrease font size increase font size 0
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The Jamaica Public Service Company made US$25.5 million in profits in 2014.

The announcement was made during a media briefing held at the company's New Kingston offices yesterday.

The JPS CEO said the US$25.5 million, or nearly J$2.9 billion, represents a return on equity of six per cent. The JPS is allowed a return on equity of 16 per cent, or some US$68 million, under its licence.

Tomblin said the profits made in 2014 represent 2.2 per cent of revenue, adding that fuel and IPP costs represent 75 per cent of revenues.
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