Dolphin Cove Limited’s revenue fell 39 per cent in the March 2026 first quarter, but the marine park operator still earned US$140,000 profit, aided by a partial reversal of prior impairment charges, according to its unaudited results.
“The first quarter of 2026 continued to reflect the effects of Jamaica’s gradual tourism recovery following Hurricane Melissa,” stated the preface to its financials.
Overall revenue dropped to US$2.5 million from US$4.1 million a year earlier, while profit fell 83 per cent.
“Visitor arrivals remained below prior-year levels due to reduced airlift capacity, delayed reopening of certain hotels and lower room inventory across key resort areas,” the company said, adding that this reduced attendance at both Dolphin Cove and Yaaman Adventure Park.
The Junior Market-listed company’s bottom line was cushioned by a US$170,000 reversal of impairment allowances booked in prior periods. “Excluding that reversal, the quarter would have been close to breakeven,” the company said, pointing to cost reductions and “continued working capital discipline” as offsetting factors.
The company highlighted brighter spots elsewhere in the business. “We continue to see positive trends from Latin American markets, strong conversion performance within the cruise segment, and resilient demand from local and direct consumers supported by targeted marketing initiatives,” it said.
On a trailing twelve-month basis, the group posted a loss, which it said reflected the impairment of related-party receivables tied to the restructuring of its wider corporate group rather than weakness in the Jamaican business itself, which it said “remained cash-generative throughout the period”.
Looking ahead, the company said it remains “confident in Jamaica’s long-term tourism fundamentals” and is focused on strengthening market diversification and guest experiences, as visitor arrivals are expected to improve through the rest of 2026.
steven.jackson@gleanerjm.com
