OMNI Industries Limited is looking to take one of its newest product lines into Trinidad and Tobago, opening discussions with one of that country’s largest baked goods manufacturers to supply baking trays as the Jamaican thermoplastics company deepens its push into the Caribbean.

Managing Director Patrick Kumst disclosed at Omni’s second annual general meeting earlier this week that the company is now actively pursuing the Trinidad market, which it had identified for expansion even before its 2024 listing on the Jamaica Stock Exchange.

“Our aim for 2026 is to build further on this regional expansion. We are aiming for Trinidad as a new market and stronger distributorship relationships in Guyana and Barbados,” Kumst told shareholders.

He later revealed that the company is “currently in discussion with one of the largest manufacturers of baking goods in Trinidad” to supply baking trays.

The prospective business takes Omni into another area of the regional food manufacturing market and follows investments made over the past two years to broaden the range of products coming out of its Twickenham Park, St Catherine, factory.

The Business Observer first reported in late 2023 that Omni was preparing to enter the bread tray business, a segment then supplied almost entirely by imports. At the time, the company was procuring equipment from Taiwan to manufacture two sizes of bread trays locally and had expected the product to be on the market by the end of 2024.

Kumst had identified the product as an attractive niche because the bulky trays carry relatively high freight costs when imported, giving a local manufacturer room to compete on price, delivery times, and customisation.

The company has not disclosed, however, how much business the tray line is currently generating, the volume now being produced, or whether it has secured the major Jamaican baking companies it had initially targeted. Kumst also did not indicate the likely size of the Trinidad opportunity or when a supply arrangement could begin.

The discussions nevertheless provide a clearer indication of how Omni intends to use its expanded production capacity to move beyond Jamaica.

“Expansion into the wider Caribbean has long been part of this company’s plans even before we listed on the Jamaica Stock Exchange. In our 2024 prospectus, we named Barbados and Trinidad and Tobago specifically and we have been actively working to grow our footprint in those countries,” Kumst said.

Following export contracts secured with Panama, Omni established distributor partnerships in Guyana, Barbados, St Lucia, Antigua, and Dominica in 2025, shipping more than 34,000 paint buckets and lids to those markets during the year.

This year, the company is looking to deepen those relationships while adding Trinidad and Tobago to its list of markets.

Kumst said the regional push is being supported by continued investment in manufacturing equipment and production capacity, allowing Omni to service higher levels of demand and broaden the products it can offer customers.

The expansion comes as the company records its strongest financial performance since listing on the Junior Market of the JSE.

For the six months ended June 30, 2026, revenue climbed 35 per cent to $1.33 billion, while pre-tax profit jumped 74 per cent to $142.5 million. The performance followed a strong 2025, when revenue rose 14 per cent to $2.19 billion and net profit increased 34 per cent.

The earnings have also allowed Omni to declare its first dividend since going public two years ago.

Following a September 3 board decision, the company approved an interim dividend of $0.0114 per share, amounting to approximately $28.5 million. It will be paid on October 30 to shareholders on record as at September 15, with September 14 set as the ex-dividend date.

“When we listed back in 2024, we told our shareholders that if we did the work, the returns would follow, and this is us following through on that. We had a strong six months, the balance sheet is stronger than it’s ever been, and it felt like the right time to have shareholders share in that growth,” Kumst said.

The dividend represents approximately 20 per cent of Omni’s year-to-date earnings, below its stated ceiling of 25 per cent.

Kumst said retaining the remaining 80 per cent gives the company room to continue funding inventory, working capital, and expansion as it pursues additional regional business.

“We believe this dividend strikes the right balance between rewarding our shareholders and continuing to invest in the growth of the business, and it’s a step we intend to build on as our performance allows,” he said.

Omni raised approximately $500 million in its 2024 initial public offering, with proceeds earmarked for machinery upgrades, increased production capacity, and working capital.

At the end of June, inventory stood at $941 million as the manufacturer positioned itself to meet continued demand from the construction sector and rebuilding activity following Hurricane Melissa.

“Demand is still climbing, and we’ve built up our inventory to be ready for it. So this dividend is really us saying thank you to our shareholders while keeping our foot on the gas for what’s next,” Kumst said.