TransJamaican Highway Limited (TJH) reported revenue of US$28.5 million for the second quarter ended June 2026, a 26 per cent increase year-over-year, as the company benefited from the first full-quarter contribution of its Phase 1C extension from May Pen to Williamsfield.
“This strong performance reflects continued growth in traffic volumes across the network together with the contribution from Phase 1C, which commenced commercial operations in December 2025,” the company said in its interim financial statements approved by the board this week.
Net profit during the quarter grew by one-third to US$11.6 million from US$8.7 million a year earlier. For the six-month period, profit totalled US$24.9 million, 40 per cent higher than the US$17.8 million earned a year earlier, on revenue of US$57.5 million, up 28 per cent from US$45.0 million.
With the inclusion of Phase 1C, the toll road controlled by TJH now comprises six active toll plazas. Four operate under the existing Phase 1A and 1B segments — located in May Pen, Vineyards and Spanish Town on the T1 Corridor, and in Portmore on the T2 Corridor. The additional two plazas, located in Clarendon, extend the network to Williamsfield, Manchester. The 29-kilometre Phase 1C corridor was acquired from the National Road Operating and Constructing Company for approximately US$22.1 million.
TJH, listed on the Jamaica Stock Exchange since March 2020, holds a 35-year concession to design, build, operate and maintain the Highway 2000 East-West network — approximately 49.9 kilometres — under an agreement dating back to 2001.
Operating expenses increased 18 per cent to US$13.4 million for the half-year, reflecting higher maintenance, operational support and amortisation costs associated with the expanded concession footprint. Administrative expenses edged up 9 per cent to US$5.4 million. Finance costs, however, declined 8 per cent to US$6.2 million as scheduled principal repayments on the company’s 5.75 per cent senior secured notes continued to reduce the outstanding balance, and 20 per cent of the group’s Jamaican-dollar cumulative redeemable preference shares were redeemed in January.
The deleveraging is visible on the balance sheet. Net borrowings fell to US$199.5 million from US$207.6 million at December, while operating cash flow surged 54 per cent to US$37.5 million. Cash and bank balances rose to US$18.0 million.
The board declared an interim dividend of J$0.165 per share — equivalent to approximately US$13 million — paid in April. That compares with US$10 million a year earlier, a 30 per cent increase that reflects the company’s confidence in sustained cash generation from the enlarged toll network.
Total shareholders’ equity grew to US$95.0 million from US$83.1 million at year end. TransJamaican Highway is now fully publicly held after the National Road Operating and Constructing Company Limited divested its remaining 20 per cent stake through an oversubscribed public offering in March 2025.
business@gleanerjm.com
