KNUTSFORD Express moved back into profit in the February quarter after storm-related losses, but weaker revenue and sharply lower earnings suggest the road to full recovery may take longer.

The transport and courier company reported net profit of $15.8 million for its third quarter ended February 28, reversing the $3.6 million loss recorded in the previous quarter ended November 2025, when operations were hit by Hurricane Melissa.

Even so, the result was down 68.4 per cent from the $50 million earned in the corresponding quarter last year. Earnings per share fell to $0.03 from $0.10. Meanwhile, revenue for the quarter declined 8.2 per cent to $544.2 million from $592.7 million a year earlier, reflecting what the company described as lingering economic and operational effects from the storm.

“As our nation and our business continue to navigate the extended recovery phase following the unprecedented devastation of Hurricane Melissa, we are seeing gradual stabilisation,” directors said in the company’s report accompanying the financial statements.

The softer quarter meant Knutsford’s nine-month performance also remained below last year’s pace.

For the nine months ended February 28, revenue slipped to $1.56 billion from $1.64 billion, while net profit fell to $78.6 million from $169.7 million. Earnings per share declined to $0.16 from $0.34.

Even with earnings compressed, management used the update to signal confidence in the longer-term outlook.

The company said new coaches were integrated into the fleet during the period to improve efficiency and reduce downtime, while its major infrastructure project in Mandeville is moving steadily toward completion. Management added that similar opportunities are being evaluated at other strategic locations across the island.

Knutsford also pointed to changing customer behaviour, saying more passengers are booking trips online, which it said validates ongoing investment in digital platforms and a more seamless customer experience.

The company’s continued investment was also evident on the balance sheet. Total assets climbed 13.3 per cent to $2.42 billion from $2.13 billion a year earlier, driven by increases in property, plant and equipment and investment properties. Shareholders’ equity rose to $1.52 billion from $1.40 billion.

Cash and bank balances closed the period at $97.1 million, up from $69.8 million a year earlier, while loan notes payable increased to $473.4 million, including current and non-current balances, as the company continued to fund growth initiatives.