Omni Industries Limited has cut its export ambitions by half and stretched the deadline, telling shareholders it now wants overseas sales to reach 10 per cent of revenue within five years – down from the ‘20 per cent in two years’ target its managing director set out at the last annual general meeting.
“The targeted goal that we have over the next five years is to increase that number to 10 per cent of total sales,” Patrick Kumst said at the meeting at The Courtleigh Hotel in New Kingston on September 8.
Exports accounted for 3.5 per cent of revenue in 2025, down from 3.8 per cent in 2024.
Kumst said Omni would reach the new target by “expanding on our base of operations that we have now and push into the region, and tighten our distributorships with partners in Guyana and other territories”. He said plans to ship to Trinidad and Tobago and Barbados had advanced, and that the company had established distribution partnerships in Guyana, Barbados, St Lucia, Antigua and Barbuda, and Dominica.
The retreat comes despite a strong quarter at home. Revenue for the three months to June 30 rose 23 per cent to $637 million from $517 million a year earlier, while net profit climbed 10 per cent to $56 million.
Omni attributed the quarter to demand for construction and infrastructure products as rebuilding gathered pace after Hurricane Melissa.
The company flagged pressures ahead. “The recent upward trend in fuel prices has the potential to increase input costs in the short to medium term, which could ultimately impact product pricing,” the quarterly report said. “Additionally, continued geopolitical instability in certain regions poses risks not only to global energy markets, but also to key international shipping routes, creating further uncertainty within the supply chain.”
Kumst pointed to $217 million in capital spending, including $166 million on new machinery, which he said lifted production capacity by 20 per cent and shortened turnaround times.
The Twickenham Park manufacturer, which makes thermoplastic pipes, conduits, crates, buckets and hoses, listed on the junior market of the Jamaica Stock Exchange in June 2024, raising $500 million. Construction-related products have accounted for roughly 58 per cent of sales.
The meeting also marked a changing of the guard, with Credit Manager Gloria McNaughton, Warehouse Manager Daniel Chambers and Operations Supervisor Vincent Clarke all due to retire this year.
luke.douglas@gleanerjm.com
