Mailpac Group is preparing to step outside Jamaica’s borders for the first time, with Executive Chairman Khary Robinson signalling that the company is weeks away from announcing a multi-market regional move.

Robinson declined to outline the shape of the regional push but confirmed that Mailpac’s next move is in alignment with the company’s broader vision to evolve into a diversified logistics operator.

“It will be multiple markets,” he said after the company’s annual general meeting, adding that the company’s “aspiration is all about being a regional player in multiple markets”.

He indicated he would only speak freely when final documents are signed.

“As soon as we’re there and documents are signed… then I will be sure to share with you,” Robinson said.

Pressed on whether the expansion would involve an acquisition, partnership or greenfield start-up, Robinson stopped short of confirming the model. Instead, he pointed to Norbrook’s long-standing business approach.

Mailpac is not operating in isolation. The company is 72.6 per cent owned by Norbrook Equity Partners, making it part of the wider Norbrook ecosystem of logistics, payments, transport and consumer service businesses.

Norbrook’s model has historically centred on acquiring service platforms — rather than building them slowly — and scaling them with capital, shared back-office support and operational discipline.

That pattern was visible in Mailpac’s own growth trajectory last year, when it executed the landmark acquisition of MyCart Express Limited. The deal immediately added 13 locations across Jamaica and pushed Mailpac deeper into the budget-conscious consumer market.

At the time, Robinson said the transaction showed that Mailpac is “always evaluating opportunities to acquire platforms or new business lines”, and that the company remains “open to acquisitions, both in Jamaica and foreign markets”.

The MyCart deal materially reshaped Mailpac’s balance sheet, adding roughly $1.16 billion in intangible assets. It also introduced fresh operational challenges, particularly the expected credit loss (ECL) provisions now visible in the company’s finance and policy costs, but it expanded Mailpac’s geographic reach overnight, a hallmark of Norbrook’s growth style.

Against that backdrop, Robinson’s hint that Mailpac’s regional move will be “multiple markets” strongly suggests a structure more aligned with acquisition than organic expansion.

While Mailpac itself has not formally operated outside Jamaica under its own brand, the wider Norbrook ecosystem is not unfamiliar with regional e-commerce logistics networks. Mailpac’s original business, before listing, was as an exclusive international agent to Aeropost in Jamaica, and Aeropost remains a major logistics operator across the Caribbean.

As the regional strategy develops, Mailpac is actively reshaping itself from a courier service into a diversified logistics operator.

“We’re doing a number of different modalities within logistics,” Robinson told the Jamaica Observer.

“We have our traditional courier business. Then we launched our packet barrel service. We just recently signed to become a last mile provider for Temu. And we’re looking to do that with a number of other brands,” he continued.

Temu represents Mailpac’s most significant new partner. Robinson describes the marketplace as “probably the largest provider of goods to Jamaica today”, surpassing Amazon and Shein.

“So it’s Temu, then Amazon, then Shein,” he said, adding that the company is working to secure more accounts.

Robinson noted that the decision to introduce last-mile services as part of Mailpac’s offerings is rooted in operating leverage.

“We already have locations and vehicles and people and so on,” Robinson said. “By layering new services onto that existing infrastructure, you get additional revenue, but your cost base generally stays the same. It should then increase your margins and profitability,” he added.

Mailpac delivered a stable top line in its third quarter, but continued to show improvements in operating efficiency, even as finance costs weighed on the bottom line.

For the three months ended September 30, 2025, revenues were $733.0 million, virtually unchanged from $732.0 million in the prior year. However, stronger margins lifted gross profit to $420.8 million, up from $368.4 million, pushing the gross margin to 57 per cent, compared with 50 per cent last year. Operating profit also edged higher, moving from $144.2 million to $147.6 million.

Net profit for the quarter declined to $95.1 million, compared with $114.0 million a year earlier. This reflected a rise in finance and policy costs, linked to expected credit losses in the MyCart division and higher depreciation on leased locations, as well as the company’s transition into its 50 per cent tax-remission phase.

For the nine months to September, Mailpac posted revenues of $2.16 billion, up from $1.72 billion, while net profit climbed to $248.2 million, compared with $182.7 million last year. The company closed the period with $316 million in cash, $909.7 million in equity, and total assets of $2.39 billion, supported by the full integration of the MyCart acquisition.