The JMMB Group Lim­it­ed has re­port­ed a net prof­it of J$1.83 bil­lion ($78.5 mil­lion or US$11.5 mil­lion) for the nine-month pe­ri­od end­ed De­cem­ber 31, 2024.

In the JMMB Group’s fi­nan­cial re­port which was post yes­ter­day, the com­pa­ny said its fi­nan­cial per­for­mance con­tin­ues to im­prove.

Group CEO Kei­th Dun­can said, “Even though for the first six months of the fi­nan­cial year, the Group re­port­ed an op­er­at­ing loss of J$570 mil­lion, there was marked re­bound in the third quar­ter re­sult­ing in year-to-date op­er­at­ing prof­it of J$379 mil­lion.

“Ad­di­tion­al­ly, Q2 YTD net prof­it im­proved by 164 per cent from J$696 mil­lion to J$1.83 bil­lion in Q3 year to date. The JMMB Group’s strate­gic in­vest­ment in Sagi­cor Fi­nan­cial Com­pa­ny (SFC) al­so con­tin­ues to be ac­cre­tive to the Group, con­tribut­ing J$1.76B to share of prof­it for the nine-month end­ing De­cem­ber 31, 2024.”

Dun­can not­ed the group al­so en­tered in­to a strate­gic joint ven­ture part­ner­ship with Lib­er­ty Latin Amer­i­ca, par­ent of FLOW Ja­maica, to cre­ate a dig­i­tal mi­cro­fi­nance lend­ing com­pa­ny—Myne­Lend Ja­maica of which it has 50 per cent own­er­ship.

The re­port al­so not­ed that the Do­mini­can Re­pub­lic and T&T op­er­a­tions con­tin­ued to pro­duce cred­i­ble per­for­mances con­tribut­ing 19 per cent and 29 per cent of net op­er­at­ing rev­enues, re­spec­tive­ly.

Dun­can said, “The JMMB Group will con­tin­ue to di­ver­si­fy and grow its busi­ness and rev­enue lines and work to­wards a more re­silient earn­ings pro­file in tan­dem with ac­tive cost man­age­ment to in­crease op­er­a­tional ef­fi­cien­cy, pro­duc­tiv­i­ty, and prof­itabil­i­ty.

“We would like to ex­tend our heart­felt grat­i­tude to our clients, team mem­bers, share­hold­ers, and part­ners for their un­wa­ver­ing sup­port and trust in JMMB Group. To­geth­er, we will con­tin­ue to build on our suc­cess­es and pur­sue new win­dows of op­por­tu­ni­ties for growth and im­pact.”

The re­port al­so not­ed that for the quar­ter, JMMB T&T pro­vid­ed do­na­tions and care pack­ages to 15 NGOs, as­sist­ing them with su­per­mar­ket vouch­ers to pur­chase es­sen­tial items for chil­dren, se­nior cit­i­zens, and an­i­mals in need.

In part­ner­ship with ex­pert com­mu­ni­ty lead­ers, JMMB part-spon­sored a girls’ em­pow­er­ment pro­gram that com­prised of ses­sions fo­cus­ing on fi­nan­cial lit­er­a­cy for teens, so­cial me­dia safe­ty, and ca­reer op­por­tu­ni­ties in so­cial me­dia and ar­ti­fi­cial in­tel­li­gence (AI).

The re­port stat­ed, “This pro­gramme em­pha­sised the im­por­tance of a se­cure en­vi­ron­ment, sup­port­ive friend­ships, and men­tor­ship. Through our par­tic­i­pa­tion in their pro­grammes, the JMMB Group con­tin­ues to fos­ter growth, de­vel­op­ment, and pos­i­tive trans­for­ma­tion in the com­mu­ni­ties it serves, re­flect­ing our core val­ues of love and care.”