First Look

STANLEY MOTTA LIMITED REVENUES UP 300%, NET PROFIT $1.66 BILLION



0 | 2018-11-16 14:42:00

Stanley Motta Limited (SML) of Kingston Jamaica, creator of 58HWTR, one of the largest Business Process Outsourcing (BPO) facility’s in the English-Speaking Caribbean, is pleased to release its unaudited interim results for the quarter ended 30 September 2018 (Q3 2018) to stockholders and the Jamaica Stock Exchange.

The Company recorded J$172 million in revenues for Q3 2018, an increase of J$129 million or 300 percent over the corresponding quarterly period in 2017.  Net profit reached J$1.665 billion in Q3 2018, an increase of J$1.643 billion over the corresponding period in 2017.

“The increase in revenues represents the new rental income from Unit 4 at 58HWTR, which was handed over to the tenant (leading global BPO firm, Alorica) in May 2017.  The increase in net profit was bolstered by the revaluation gain on the completed Unit 4”, noted SML Chairman, Melanie Subratie.  She added that, “Growth in monthly income will continue into the fourth quarter of 2018 as full rental will become payable monthly for Unit 4 from November.  From that time, SML will also benefit from full rental payments for the entire square footage of the 58 HWT property”.

SML’s lease with Alorica for Unit 4 commenced in May 2018.  The development of Unit 4 provides the tenant with 112,000 sq. ft. of space in addition to the 50,000 sq. ft. it previously occupied.  The tenant is currently outfitting the space and preparing for full operations.

Alorica is one of the world’s leading BPO firms, accounting for an astounding 600 million customer interactions annually. The company prides itself on its ability to create great experiences for customers online, on the phone and through social media.

SML’s 58HWTR complex is Jamaica’s first integrated ‘Tech Park’. The Company’s investment in this premises has exceeded US$30 million and is expected to provide jobs for over 5000 Jamaicans in the BPO industry, currently one of Jamaica’s fastest growing sectors. The facility at 58HWTR consists of 230,000sq. ft. of office space rented predominantly to Alorica and includes a good range of other service provider tenants including a child care facility, ATM & financial services, healthcare, and a range of food & beverage options.  

Interestingly, SML also ranks among a few companies in the world to have an all-female Board of Directors.  The Board is led by noted businesswoman Melanie Subratie and includes 6 other professionals with experience in fields including law, banking and finance, and business. The remaining members of the board are Sharon Donaldson (Managing Director of General Accident) Patricia Sutherland (Executive Director of Operations at JMMB), Minna Israel (Special Advisor to the Vice Chancellor of UWI, Mona); Sandra Glasgow (Founder and Managing Director of BizTactics Limited); and Attorneys-at-Law Jennifer Scott and Andrea Kinach.




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