Knutsford Express profit dips amid oil price spike
The cross-country bus company, Knutsford Express Services Ltd (KEX), said its first-quarter profit fell 19 per cent due to a double-digit rise in fuel costs. Net profit for the quarter ending August was $53.7 million, down from $66.4 million a year earlier. “This was primarily driven by a surge in fuel costs, which rose by more than 41 per cent compared to the corresponding period last year,” according to CEO Oliver Townsend and director Anthony Copeland in a note to shareholders posted last week on the Jamaica Stock Exchange (JSE). Revenue rose 5.5 per cent to $632.9 million from $599.7 million a year earlier. Fuel prices have increased since the US and Israel strikes on Iran in February. Diesel fuel sold for $246.91 a litre up to Thursday, according to Petrojam, the state-owned refinery. During the review period, KEX would have witnessed fuel rise from $166.11 a litre in August 2025…
