Business

Dolphin Cove profits from Hurricane Irma

Wednesday, November 22, 2017

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Dolphin Cove Limited has credited an increase in revenue of US$447,000 or 11 per cent for the three months ending September 2017 to the diversion of cruise ships from other destinations as a result of Hurricane Irma.

The increase in visitors to the marine park forms part of a total of 361,659 additional people Jamaica saw in cruise passenger arrivals after the hurricane ravaged other Caribbean islands. Tourism Minister Edmund Bartlett anticipates that Jamaica is set to break both the figure for the number of visitors to arrive on the island this year, as well as the money the visitors collectively spend.

The one-off increase in visitor arrivals, which included factors such an increase in the availability of rooms and intensified efforts by the Jamaica Tourist Board to attract visitors from new destinations, still has the Dolphin Cove optimistic that it will see “very good” arrival numbers for the coming Christmas season.

The marine park operator is also banking on an upsurge in the US economy.

For the third quarter ending September 31, Dolphin Cove had revenue of US$4.3 million over the US$3.9 million it posted a year earlier. For the nine months revenue climbed to US$13 million, US$1 million over the comparative period of 2016.

According to the company, Negril and Yaaman parks showed the strongest increases.

Net profit for the September quarter also reflected improvement of 68 per cent, moving from US$902,679 to US$1,517 million. The company had cash and cash equivalents of US$2.5 million as at the end of September and total assets of US$31 million.

—Karena Bennett

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