Tyrone Wilson, CEO of Kintyre Holdings.
KINTYRE Holdings, a Jamaican funding agency previously often known as iCreate, reported its first annual web revenue of $81 million in 2024, reversing a $154 million loss in 2023, with the development partly masked by a $16.2-million accounting adjustment to prior-year figures, in line with unaudited monetary statements launched just lately.
Kintyre Holdings’ monetary restoration in 2024 was anchored by strategic divestments of non-core belongings, which streamlined operations and redirected capital to high-growth subsidiaries. The sale of The Chalet luxurious residential mission in St Ann eradicated future holding prices, whereas lowering its stake in Visible Vibe from 100 per cent to 60 per cent injected liquidity for digital infrastructure upgrades.
These strikes contributed to a 55 per cent income surge year-over-year to $217 million — 43 per cent of which was generated within the fourth quarter alone — with its newly launched Parallel RENO renovation unit matching the income of its flagship Visible Vibe promoting arm inside two months, signalling a strategic pivot towards high-margin sectors beneath CEO Tyrone Wilson’s restructuring efforts.
“It’s actually only the start of an total technique that we’ve within the enterprise to develop our backside line and usher in money for the corporate,” Wilson instructed the Jamaica Observer as he mirrored on the corporate’s first worthwhile yr. He stated because the rebranding and repositioning of the corporate from iCreate to Kintyre final yr, “much more alternatives” have opened up exterior the digital inventive subject that was its root.
The corporate’s monetary statements level to operational restructuring which performed a crucial position within the turnaround, with administrative bills slashed by 45 per cent within the fourth quarter of 2024 and finance prices lowered by 79.7 per cent. The rebranding from iCreate to Kintyre Holdings in 2023 facilitated a pivot to an investment-focused mannequin, enabling acquisitions like Parallel Actual Property Ventures and the launch of Parallel RENO. This renovation division generated income similar to Visible Vibe inside two months and is projected to contribute 30 per cent of 2025 income.
“It’s rising at a really quick tempo,” Wilson stated of the just lately launched Parallel RENO — the renovation division launched final yr. “Month by month, this yr January and February, the enterprise is basically delivering identical stage of income like VisualVibe,” he continued.
“We’ve got a pipeline of initiatives that we’re seeking to convey on stream. So, we’re bullish because it pertains to Parallel RENO, and we expect it’s a new progress frontier for us at Kintyre.”
Nonetheless, its money cow, the Visible Vibe subsidiary drove a lot of the progress final yr. Visible Vibe’s 18.7 per cent pre-tax revenue improve stemmed from digital show upgrades at high-traffic Kingston areas and the profitable pilot of cell V-Pack Backpack Billboards, which paired street-level promotions with synchronized display advertisements.
“We’ve got upgraded two of our primary areas, Manor Park and Half-Method-Tree, these are two of the largest by way of income era. We moved to digital indoor promoting… and we launched the backpacks. We name it the V-Packs, which is the Visible Vibe backpacks, and that’s simply one other approach of permitting prospects or advertisers or companions to get their manufacturers in entrance of individuals.”
Wilson stated the V-Packs have been launched throughout the Christmas interval with people carrying them in selling GiftMe merchandise. He stated an analogous activation was executed on behalf of the ATL Group in Montego Bay earlier this yr.
“So, it’s tapping into the core of our community to have the ability to introduce new companies or diversification by way of how manufacturers join with their prospects. So, we consider that most of these new promoting strategies will certainly drive income, 15-20 per cent for 2025,” Wilson added.
The corporate indicated that the 2 divisions would be the progress drivers transferring ahead, with plans to extend Parallel RENO’s market presence and gross sales initiatives, drive diversification in Visible Vibe’s income streams, and pursue additional funding alternatives “whether or not by way of a non-public elevate, public elevate, or reinvesting its income as executed in 2024.”
But, the 2 initiatives are a part of 5 strategic areas the corporate has recognized for progress. Burnt by years of missteps, Wilson stated he’s now extra targeted on persevering with on the trail of improved company governance.
“I feel our largest menace proper now as an organization will not be essentially the flexibility to develop income and all of that, however, correct governance,” he instructed BusinessWeek.
“We’ve seen prior to now the place it has dent shareholder confidence and investor confidence. And I feel now that we’ve a great angle on the expansion plans of the corporate and so forth, we’re in a position to make investments extra time and sources in constructing our company governance. And I feel we’ve a variety of work to do to proceed to revive that confidence,” he famous.
He stated it’s much more crucial now to get company governance proper as he seeks to woo buyers to Kintyre.
Its legacy iCreate coaching belongings stay on the playing cards, Wilson stated, although he couldn’t give a transparent timeline on when it’s going to begin providing programs once more. The Kintyre CEO stated that’s right down to an analysis course of now underway, to establish the very best course to supply, as synthetic intelligence (AI) render earlier programs akin to inventive writing or sure graphic designs course out of date.
Already he stated the corporate has been adopting AI total and has seen productiveness improve internally, whereas the instrument can also be used to assist put together monetary stories and assist it monitor its governance framework and to construct out gross sales plans.
In the meantime, tax incentives beneath Jamaica’s Junior Market guidelines lowered the efficient tax fee to 17.3 per cent, preserving $16.87 million in income.
