Mailpac continues growth momentum

Mailpac Group Ltd’s revenue grew 10 per cent for its first quarter ended March, as the company continues to benefit from rising online shopping.
Revenue totalled $790 million, up 10.3 per cent year-over-year. Net profit rose six per cent to $64.6 million, while cash and bank balances stood at $245.3 million. 
The company delivered another quarter of revenue and earnings growth while “continuing to invest” in its operations and software, according to Executive Chairman Khary Robinson in the directors’ report to shareholders.
Mailpac provides online shopping-delivery services. The company became publicly listed on the Junior Market of the Jamaica Stock Exchange in December 2019. 
“These investments are expected to enhance capacity, improve service delivery, and support the company’s ability to capitalise on future growth opportunities, while maintaining the prudent capital management that underpins our financial position,” Robinson stated.
Mailpac closed last year with increased revenues, driven by rising consumer demand and the acquisition of MyCart Express, an online shopping and delivery business, in 2024. Revenue for 2025 was $2.98 billion, up from $2.56 billion in 2024. Net profit for the year stood at $1.14 billion, though the figure was substantially boosted by a non-recurring gain from the re-measurement of the MyCart contingent purchase consideration.
Total assets remained strong at approximately $2.44 billion, while shareholders’ equity increased to $1.69 billion, reflecting the continued profitability of the business, Robinson said.
Mailpac said it continued to invest across its network. 
Looking forward, the company said consumer demand continues to grow.
“The team remains focused on expanding our service capabilities,” Robinson said. 
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