Kintyre Holdings Accelerates Diversified Growth with Turnaround Q1 2025 Results

Kingston, Jamaica — Kintyre Holdings (JA) Limited, formerly iCreate Limited, has unveiled a transformative first quarter for 2025, reporting a substantial improvement in profitability and setting the stage for accelerated strategic growth. The company’s Q1 unaudited financial statements show a sharp reversal in fortunes, backed by disciplined operations and diversification across high-growth sectors.

Operational Highlights: Parallel Launches and Visual Vibe Stability

The Group’s performance was buoyed by the official pilot project of its newest division, Parallel Renovations. This real estate renovation and development initiative delivered its first office build-out during the quarter. According to management, the successful execution validated the business model, paving the way for an accelerated rollout of additional projects throughout the year.

Meanwhile, Visual Vibe, the Group’s digital out-of-home (DOOH) media company, continued to deliver steady revenue through its portfolio of long-term contracts. With over 15 prime billboard locations islandwide, this unit remains a core contributor to recurring income.

Other subsidiaries include:

• iCreate Institute – offering skills training and short courses.
• GetPaid Group – focused on digital transformation and e-commerce.
• Seven Kingston Limited – a lifestyle and hospitality brand targeting urban millennials.

Financial Performance: Return to Profitability

For the quarter ended March 31, 2025, Kintyre Holdings posted:

• Revenue of $34.1 million, up 3.6% from $32.9 million in Q1 2024.
• Gross profit of $18.8 million, down from $26.1 million, due to startup expenses from Parallel’s pilot project.
• Profit before tax (PBT) of $11.3 million, a remarkable increase from $0.3 million in the prior year, translating to a PBT margin of 33.1%.
• Net profit of $8.4 million, compared to a net loss of ($2.2 million) in Q1 2024.

The turnaround was driven by a rigorous cost control program and more efficient integration of operations, offsetting the temporary pressure on gross margins from new venture ramp-up.

Strategic Outlook: Funding and Expansion Pathway

Looking forward, Kintyre is pursuing a three-pronged funding strategy:

1. Debt financing to support operational scaling.
2. Unlocking value from existing real estate holdings.
3. Executing a rights issue to raise equity capital for expansion.

This strategic capital injection is aimed at scaling the Visual Vibe network and other core subsidiaries, positioning Kintyre as a leader in diversified investment holdings in Jamaica.

Leadership and Governance

Tyrone Wilson, the Group’s Executive Chairman and CEO, remains the visionary leader behind Kintyre’s dynamic transformation. His substantial ownership stake — over 62.87% of total shares (597 million shares held directly or through connected parties) — demonstrates a high level of alignment between leadership and shareholders.

Other senior leaders include:

• Rochelle Burnett, COO
• Jasmin Aslan, CBO
• Ayana Graham, Financial Controller (directly holds 60,000 shares)

Top 10 Shareholder Analysis

According to data sourced from the Jamaica Central Securities Depository, the top ten shareholders in Kintyre Holdings collectively hold approximately 913.4 million shares, reflecting the company’s tightly held structure. Key insights include:

Rank	Shareholder	Shares Held	% Ownership
1	Kintyre Holdings Limited (Own Stock)	167,769,568	17.65%
2	NCB Insurance Co. Ltd. A/C 724	117,988,273	12.42%
3	JMMB Custody A/C 8747	110,199,000	11.60%
4	JMMB Custody A/C 8746 – For IPO Mandate	93,768,850	9.87%
5	PROVEN Fund Managers	81,212,884	8.55%
6	PMG HoldCo Ltd.	51,174,648	5.38%
7	Tyrone Wilson (via connected accounts)	49,874,610	5.25%
8	NCB Custody A/C 4951	30,348,260	3.19%
9	NCB Custody A/C 5403	18,502,500	1.95%
10	Client account (undisclosed)	17,000,000	1.79%

Note: The presence of institutional investors such as NCB and JMMB highlights growing confidence in the Group’s long-term outlook.

Conclusion: A New Chapter of Growth and Value Creation

Kintyre Holdings’ Q1 2025 performance demonstrates that disciplined execution, business model diversification, and entrepreneurial leadership can together deliver strong shareholder value — even in a volatile economic environment. With new ventures gaining traction and funding strategies in motion, the company is poised to shape a bold new future in Jamaica’s investment landscape.

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