Chairman of Pulse Investments Ltd Kingsley Cooper has announced the progress of new projects which are expected to add to revenue when operational. This includes the company’s main investment in the construction of 52 guest suites at Villa Ronai in Stony Hill, St Andrew and 19 guest rooms on Trafalgar Road in New Kingston.

The company, which saw revenues of $350.58 million for the year ended June 30, 2016, released six-month results last week reflecting revenues of $188.49 million for the period ended December 31.

The result compared to $151.7 in inflows for the similar period in 2015.

Profit for the six-month period since the start of the financial year was $159.93 million, an improvement on $136.45 earned for the six-month period in 2015.

Earnings per share as at December 31 was 56 cents per unit compared to 49 cents for the prior period.

For the December quarter itself, net profit was $66.7 million for the quarter, compared to $51.6 million for the similar period in 2015.

Currently, Pulse earns revenue from sponsorship, fashion, tourism, real estate, night clubs and modelling.

Cooper told the Jamaica Observer that the expansion of Villa Ronai is approximately 40 per cent complete and 52 per cent complete at Trafalgar Road.

For the entire real estate project to which will be added town houses in 2018, the projected budget is approximately $500 million for construction, equipment and furnishings.

On Monday Cooper clarified that the first phase is being funded by a combination of related party and internally generated funds. Equity from a rights issue will fund the second phase.

Other new projects which are likely to add to revenue are new model searches around the Caribbean.

Pulse Investments “now represents a successful Trinidadian model internationally — our first non-Jamaican, a much enhanced Caribbean Fashionweek and TV titles,” the company chairman outlined.

Also in its nascent stage is the Peter Tosh Museum, which Cooper said has received accolades from such publications as the UK

Guardian, The NY Times, The Washington Post, Billboard magazine and many others.

Related projects are The Last Concert shop, merchandising and events — another point of focus in 2017.

Founded in January 1980, Pulse is a diversified entertainment business with assets of $2.28 billion as at December 31, 2016. The company was first listed on the Jamaica Stock Exchange (JSE) in 1994.